BusinessWeek – Activist hedge fund Jana Partners said Monday that it has teamed up with the Ontario Teachers Pension Plan Board to buy a 5.2 percent, $531 million stake in textbook publisher McGraw-Hill Cos., saying the shares were undervalued and that it may take steps to boost shareholder value.
Shares of McGraw-Hill jumped $2.34, or 5.7 percent, to $43.50 in after-hours trading on the news.
