WebMD to buy back 10% of its common stock in $37-per-share offer

By Lisa Kerner

Charlotte, N.C., Nov. 10 - WebMD Health Corp. began its tender offer to purchase up to 5.7 million shares, or 10% of its common stock, for $37.00 per share.

On Nov. 3, WebMD announced it would pay $36.00 for each share.

The company's stock closed at $35.75 (Nasdaq: WBMD) on Monday.

The tender offer will end at 5 p.m. ET on Dec. 10, according to a WebMD news release.

WebMD said it will use a portion of its approximately $1 billion in cash and investments to fund the offer.

Innisfree M&A Inc. (888-750-5834) is the information agent for the offer.

American Stock Transfer & Trust Co. is the depositary.

New York-based WebMD provides health information services through its online portals and publications.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.