HALISTER: WebMD Confirms It Will Be Bought by KKR for $66.50/Share in Cash

WebMD Confirms It Will Be Bought by KKR for $66.50/Share in Cash

(Bloomberg) -- WebMD Health confirms it will be acquired by KKR portfolio company Internet Brands for $66.50 per share in cash, in transaction valued at ~$2.8b.
  • Shares halted
  • $66.50 is ~20.5% premium to Friday’s close and ~30% premium to Feb. 15 price, the day before WBMD said it was exploring potential strategic alternatives
  • In deal, a subsidiary of Internet Brands will commence a tender offer in the next 10 business days to acquire WBMD shares
  • Financing for deal is fully committed; expected to close in 4Q
  • WBMD advised by JPMorgan
  • NOTE: July 24, KKR Is Said to Pay $66.50 Per Share for WebMD: Reuters
  • Statement:Link

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
KKR US (KKR & Co LP)
WBMD US (WebMD Health Corp)

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