McGraw-Hill to split into two listed companies

McGraw-Hill Companies Inc said on Monday it would separate into two public companies, one focused on global markets and the other on education, pleasing investors who had been pushing for the company to split its businesses.

McGraw-Hill will split into McGraw-Hill Markets, which would include its Standard & Poor's ratings business, and McGraw-Hill Education, which will contain the textbook publishing and education units.

The company said it would also speed the pace of share repurchases to a total of $1 billion for 2011.

Shares of the company closed at $38.72 on Friday on the New York Stock Exchange.