Seeking Alpha

WebMD slumps after announcing preliminary tender offer results

  • WebMD's (WBMD -4.2%) offer to buy up to 5M shares at $34 (total cost of $170M) was oversubscribed: the company's preliminary count indicates 28.5M shares were tendered. (PR)
  • Following the completion of the tender offer, WebMD's share count will drop to 45.8M from 50.8M., and the company will have $880M in cash/equivalents (offset by $800M in debt).
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