McGraw-Hill Education / Cengage Learning Merger Is No More

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  1. Richard
    Richard says:

    This was very insightful analysis. Thank you. I am a former longtime Cengage/Thomson Learning employee who went through the 2013 bankruptcy and have been watching the merger dance from a distance. All I will add – which you touched on – is that Cengage’s problems go all the way back to when they were acquired by Apax in 2007 for an eye popping $7+ billion. Their restructuring out of bankruptcy has not only made it difficult for them to manage their debt, but has put them in an awkward position with private equity owners who don’t know how to get out of their investment.

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