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Engine Capital Releases Presentation Detailing its Strong Opposition to Veritas' Insufficient Tender Offer at Houghton Mifflin Harcourt

Believes Veritas Offer Undervalues HMHC at 7.6x 2024 Unlevered Free Cash Flow and Is the Result of a Flawed Process Calculates that Veritas May Earn Outsized 5-Year IRR Between 31% to 37%, Underscoring the Inappropriateness of its $21 Tender Offer