WebMD to pay $235M for shares in tender offer
APNews
Dec 11, 2009
Health Web site operator WebMD Health Corp. said Friday more than 6.3 million shares of its stock were properly tendered as part of its offer to purchase shares for $37 apiece.
The New York-based company said it expects to purchase all properly tendered shares for a total of about $235.1 million. It will have about 51.8 million shares outstanding after the purchase.
The offer, which expired Thursday, represented a 3.5 percent premium over the stock's closing price before it was announced last month.
Shares of WebMD climbed 51 cents, or 1.36 percent, to close Friday at $37.22.