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HLTH waives minimum condition in tender offer for 80 million shares
By Lisa Kerner
Charlotte, N.C., Nov. 13 - HLTH Corp. waived the condition requiring that a minimum of 40 million of its shares be properly tendered in its offer ending Nov. 25.
The company will purchase up to 80 million shares, or 43%, of its common stock at a price of $8.80 per share in the offer that began in late October, an HLTH news release said.
It was previously reported that HLTH revised its purchase to 80 million shares at $8.80 each from 50 million shares at $9.20 each.
HLTH said it will use a portion of its cash and investments, totaling approximately $1.3 billion, to fund the tender offer.
Formerly Emdeon Corp., HLTH is a health-care business, technology and information services company based in Elmwood Park, N.J.
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