Competition & Markets Authority
Publishing merger abandoned after CMA investigation
McGraw-Hill Education has abandoned its proposed deal with Cengage Learning after competition concerns raised by the CMA.
The Competition and Markets Authority (CMA) therefore yesterday confirmed that it will be cancelling its Phase 2 merger investigation into the takeover.
McGraw-Hill and Cengage are 2 leading education publishers, producing textbooks and associated materials for higher education students.
After completing its initial Phase 1 investigation in March 2020, the CMA found that the proposed deal raised competition concerns that could mean students pay more for their textbooks. The companies offered proposals to address these concerns but the CMA considered these were unlikely to be sufficient in addressing its competition concerns and so the merger was referred for an in-depth, Phase 2, investigation. The CMA subsequently paused its investigation for 3 weeks while the companies decided whether to proceed with the deal.
McGraw-Hill and Cengage have now decided to abandon the deal so the CMA will be cancelling its investigation.
In reviewing this deal, the CMA worked closely with a number of other national competition authorities, including the US Department of Justice, the Australian Consumer & Competition Commission and the New Zealand Competition Commission, again highlighting the benefits of international cooperation in merger control.
For more information, visit the McGraw-Hill Education / Cengage Learning Holdings merger inquiry web page.
For press queries, email firstname.lastname@example.org or call 020 3738 6460.
Latest News from
Competition & Markets Authority
CMA investigates misleading online reviews22/05/2020 15:15:00
The CMA has launched an investigation into several major websites to see whether they are doing enough to protect shoppers from fake and misleading reviews.
Building supply companies abandon merger during CMA investigation22/05/2020 09:20:00
Kingspan has abandoned its proposed deal with Building Solutions during an in-depth CMA probe.
Update on CMA COVID-19 Taskforce21/05/2020 17:08:00
The CMA has published a second update from its COVID-19 Taskforce, which monitors and responds to competition and consumer problems arising from the pandemic.
Business Secretary confirms 9 new appointments to the CMA panel15/05/2020 10:10:10
Business Secretary Alok Sharma yesterday (14 May) confirmed 9 appointments to the Competition and Markets Authority (CMA) panel.
CMA consults on BA and American Airlines commitments07/05/2020 15:15:00
British Airways and American Airlines have offered commitments to resolve the CMA’s competition concerns over an agreement about airline routes between the UK and US.
CMA blocks sports-fashion merger07/05/2020 09:20:00
The CMA has blocked JD Sports’ purchase of close competitor Footasylum after finding it would leave shoppers worse off.
CMA to investigate concerns about cancellation policies01/05/2020 09:20:00
The CMA has launched a programme of work to investigate reports of businesses failing to respect cancellation rights during the Coronavirus (Covid-19) pandemic.
CMA clears NHS hospital trusts merger28/04/2020 12:20:00
The CMA has cleared the proposed merger between The Royal Bournemouth and Christchurch Hospitals NHS Foundation Trust and Poole Hospital NHS Foundation Trust.