Davis Polk advised Goldman, Sachs & Co. in connection with a variable maturity, capped accelerated share repurchase transaction it entered into with The McGraw-Hill Companies, Inc. under which McGraw-Hill is repurchasing $500 million of its common stock. Under the terms of the transaction, McGraw-Hill initially received approximately 7.2 million shares of its common stock, and the total number of shares to be repurchased will be determined over a period that is expected to last no longer than approximately four months.
McGraw-Hill is a leading content and analytics provider serving the capital, commodities and commercial markets. The capital markets include asset managers, banks, exchanges, issuers and financial advisers; the commodities markets include producers, traders and intermediaries within energy, metals and agriculture; and the commercial markets include professionals and corporate executives within automotive, construction, aerospace and defense, and marketing/research information services.
The Davis Polk corporate team included partner Mark M. Mendez and associate Alison A. Haggerty. All members of the Davis Polk team are based in the New York office.
