McGraw Hill Eyes 75% Stake In CRISIL Through Open Offer

McGraw Hill Financial Inc (NYSE:MHFI), that owns Standard & Poor’s rating agency plans to hike its stake in CRISIL Ltd. (NSE:CRISIL) to 75 percent through an open offer. McGraw Hill Financial Holdings (Singapore) P Ltd has made a voluntary offer to acquire 15.67 million shares or 22.23 percent of the voting shares of India’s leading rating agency, CRISIL Ltd. (NSE:CRISIL) at a price of Rs 1,210 or $12.42 per equity share. The offer represents a premium of 29 percent to Friday’s closing price and a 12 percent premium to CRISIL Ltd. (NSE:CRISIL)’s all-time closing price on the National Stock Exchange. McGraw Hill…