Activist hedge fund Jana Partners said Monday that it has teamed up with the Ontario Teachers Pension Plan Board to buy a 5.2 percent, $531 million stake in textbook publisher McGraw-Hill Cos., saying the shares were undervalued and that it may take steps to boost shareholder value, the Associated Press reports. Shares of McGraw-Hill jumped $2.34, or 5.7 percent, to $43.50 in after-hours trading on the news. McGraw-Hill, which owns the financial ratings agency Standard & Poor's, educational publisher McGraw-Hill Education, Platts energy information services and J.D. Power and Associates, said last month it plans to divest its broadcasting unit


Subscribe to Read More

Are You an Educator?

Get Free online access to all our news and resources

  • About the Author:

    staff and wire services reports