Veritas Capital to Acquire Houghton Mifflin Harcourt

Feb 22, 2022 By MarketDepth

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Business Update

Houghton Mifflin Harcourt Company (Nasdaq: HMHC) today announced that it will be acquired by Veritas Capital in a deal worth approximately $2.8 billion.

Surge Premarket

Shares of Houghton Mifflin Harcourt Company (Nasdaq: HMHC) surged over 14.9% in premarket trading following the announcement.

“We recognize HMH as one of the storied brands in education and are excited to partner with the company to expand its market-leading digital solutions and deliver the most efficacious products to students and teachers.”

Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas

The definitive merger agreement between HMH and certain affiliates of Veritas Capital will see the former receive $21 in cash per share through a tender offer and is expected to be completed in the second quarter of 2022. Further information about the transaction will be included in the Company’s Schedule 14D-9 with respect to the tender offer.

“As the promise of digital learning increasingly takes hold across the nation, we are confident this transaction will deepen our ability to bring the power of learning to even more teachers and their students, invest in our purpose-driven team, and have a positive impact on the communities we serve.”

Jack Lynch, President and Chief Executive Officer of HMH