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Article: WebMD Health Corp. Announces Intention To Commence Tender Offer To Repurchase Up To 5,700,000 Shares of its Common Stock.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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WebMD Health Corp. (NASDAQ: WBMD) announced that it intends to commence a tender offer next week to purchase up to 5,700,000 shares of its common stock at a price per share of $36.00. The last reported sales price per share of WebMD's common stock on the Nasdaq Global Select Market on November 3, 2009 was $34.26 per share. The number of shares proposed to be purchased in the tender offer represents approximately 10% of WebMD's currently outstanding common shares.
Following the merger of HLTH Corporation into WebMD, completed on October 23, 2009, WebMD has approximately $1 billion in cash and investments. WebMD will use a portion of its cash and investments to ...