McGraw-Hill Financial is buying SNL Financial for $2.23 billion from New Mountain Capital. New Mountain purchased SNL in 2011 for $450 million. Markets seem disappointed as MHFI shares are down more than 5% this morning. Some of the market’s concern is probably due to the perceived high valuation and the issuance by MHFI of $1.7 billion of new debt to finance this transaction. MHFI shares are trading near all time highs after selling their publishing divisions to focus solely on the financial industry last year.
