Veritas Capital Agrees To Acquire Houghton Mifflin Harcourt For ~$2.8B

• Houghton Mifflin Harcourt Co (NASDAQ:HMHC) has agreed to be acquired by certain affiliates of private investment firm Veritas Capital for an equity value of about $2.8 billion.
• Houghton shareholders will receive $21 in cash per share, representing a 36% premium to the company's unaffected share price as of January 13, 2022. Recently, there were reports that the company was exploring a potential sale.
• The company said it held discussions with several potential strategic and financial bidders, including Veritas, through a formal process.
• The transaction is expected to be completed in the second quarter of 2022.
• The company will release its Q4 2021 results before the market opens on Thursday, February 24, 2022.
• Price Action: HMHC shares are trading higher by 15% at $20.83 in premarket on the last check Tuesday.