On Monday, May 4, McGraw-Hill and Cengage separately made public the termination of their merger agreement that was announced just a year ago on May 1, 2019.
Both releases state that the decision to terminate was mutually reached, and both noted that the two publishers will part ways without financial liability to one another. McGraw-Hill CEO Simon Allen cited as the main reason for the termination that “…required divestitures would have made the merger uneconomical.” The Cengage announcement reflects that rationale and further asserts that the termination came about “due to a prolonged regulatory review process and the inability to agree to a divestitures package with the U.S. Department of Justice.”
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