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  "documentTitle": "The McGraw-Hill Companies (MHP)",
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  "presentationDate": "2011-08-22 00:00:00",
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      "text": "The real question is why would McGraw-Hill not promptly take these steps to improve operating performance and unlock shareholder value?",
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      "text": "JANA and OTPP each look forward to providing an independent shareholder perspective to McGraw-Hill’s management and Board of Directors as they conduct the current portfolio review",
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      "text": "McGraw-Hill has much more meaningful and beneficial opportunities to improve operating performance and clarify the underlying value of its assets than the actions undertaken to date (such as seeking to sell broadcasting, which accounts for only ~2% of total EBIT)",
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      "text": "Collapsing McGraw-Hill’s corporate cost structure and eliminating duplicative overhead costs would enhance this value creation",
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      "text": "Separating MH Education, Information & Media and the S&P Index business would position these businesses to improve performance and participate in consolidation, thus unlocking value",
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      "text": "McGraw-Hill’s conglomerate structure acts as a significant constraint on each of its businesses, hampering operational performance, strategic flexibility in allocating capital and share price valuation",
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      "text": "A wide ranging, transformative and comprehensive resolution of the corporate structure and cost structure is essential for McGraw-Hill to improve operating performance and shareholder return",
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      "text": "Bolstering S&P Ratings with an independent oversight figure would help the business navigate an increasingly complex global regulatory environment and heightened public focus",
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