^å¡ÛBuSmESS & FINANCE
NEW YORK, Jan. 26 ÛÓThe first rupture in McGraw-Hill Inc.Ûªs united stand against a takeover bid by American Express Co. surfaced today.</br></br>Donald C. McGraw Jr., a member of McGraw-HillÛªs board and a major shareholder, cabled his cousin, chairman Harold L. McGraw Jr., telling him to ÛÏchangeÛ his opposition to the American Express proposal.</br></br>Donald McGraw and the rest of the McGraw-Hill board last week unanimously rejected a $34-a-share bid by American Express for the 24.5 million outstanding shares of the large company that, among other things, publishes Business Week magazine, operates Standard &</br></br>Wall Street analysts have said that American Express can be expected to sweeten its $34 offer, which is worth about $880 million. In his telegram, Donald McGraw urged his cousin to seek such a sweeter deal.</br></br>Donald McGraw advised Harold McGraw to stop fighting the proposed takeover and instead ÛÏnegotiate with the top management of American Express and such other bidders as may offer to acquire the stock of McGraw-Hill at a higher price.Û