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 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.