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EXCLUSIVE: McGraw Hill May Announce Sale Of J.D. Power This Week

EXCLUSIVE: McGraw Hill May Announce Sale Of J.D. Power This Week

Further details of a story which hasn't seen media interest since the initial Reuters' report in October 2015 popped up again on Monday morning: McGraw Hill Financial Inc (NYSE: MHFI) may have sold its esteemed J.D. Power unit.

A source familiar with the matter told Benzinga J.D. Power management will be calling an internal-only meeting this week. While the details of the scheduled meeting were not given, the source believes management will discuss the fact that "a sale has been made."

Now a producer of a plethora of consumer information data points, J.D. Power is often cited as handing out awards for reliability and quality ratings -- most notably in the auto sector.

On October 28, 2015, Reuters reported McGraw Hill had hired Morgan Stanley to help with a sale process of J.D. Power, a unit which, at the time of first report, was valued at around $1 billion.

Shares of McGraw Hill initially moved higher following the Reuters report; from around $94 at the end of October to a year-end high around $100 by December 29. Since then, McGraw Hill shares have fallen by about 16 percent to start 2016.

The stock last traded at $84.17 on Monday morning, down about 1 percent from Friday's closing price.


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