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McGraw Hill Financial Inc. has reached a definitive agreement to sell J.D. Power to XIO Group, a global alternative investments firm headquartered in London, according to an April 15 press release.
XIO Group was said to be nearing a deal for the consumer research business earlier that day.
As announced, the transaction is for $1.1 billion in cash. It is expected to close during the third quarter and is subject to regulatory approvals and customary closing conditions.
Morgan Stanley is acting as financial adviser to McGraw Hill.
McGraw Hill first intimated...