McGraw-Hill Ryerson and McGraw-Hill Global Education announce going private transaction

On April 17, 2014, McGraw-Hill Ryerson Limited (McGraw-Hill Ryerson) and McGraw-Hill Global Education Holdings, LLC (McGraw-Hill Education) announced that they entered into a definitive acquisition agreement pursuant to which McGraw-Hill Education will indirectly acquire all outstanding common shares of McGraw-Hill Ryerson, that it does not already own, at a price of C$50.00 cash per common share, valuing the shares at approximately C$29.8 million. Following the completion of the transaction, McGraw-Hill Ryerson would be wholly-owned by McGraw-Hill Education.

The transaction is the result of arm's-length negotiations conducted between members of a Special Committee of independent directors and representatives of McGraw-Hill Education, resulting in an increase in the price offered by McGraw-Hill Education from the initial price offered.

The transaction has been approved unanimously by the board of directors of McGraw-Hill Ryerson (with interested directors abstaining) following the report and the favourable and unanimous recommendation of the Special Committee.

The transaction, if approved by shareholders, will be completed by the end of June 2014.

McGraw-Hill Ryerson, based in in Whitby, Ontario, publishes educational and professional materials in print and digital formats.

McGraw-Hill Education is a digital learning company that draws on its more than 100 years of educational expertise to offer solutions that improve learning outcomes around the world.

Further information can be found on Reuters' website.