Press Release: Houghton Mifflin Harcourt to Acquire Scholastic’s Educational Technology and Services Business for $575 Million
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In connection with this transaction, HMH expects to replace its existing $180 million term loan with a new $500 million committed term loan with a six year maturity.
Capital Allocation and Share Repurchase Program:
In addition, consistent with the Company's goal to create long-term stockholder value, HMH"s Board of Directors has authorized an additional $100 million under the Company's existing share repurchase program, bringing the total authorization to $200 million. This aligns with HMH's broader capital allocation strategy, which focuses on driving organic growth, pursuing strategic acquisition opportunities and returning capital to stockholders, when appropriate.
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- People:
- Houghton-Mifflin Harcourt
- Places:
- Boston
- United States
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