WebMD Health (WBMD) Announces Offer to purchase Up To 5.7M Common Shares at $37/Share

November 10, 2009 8:56 AM EST

WebMD Health Corp. (NASDAQ: WBMD) announced today that it has commenced its tender offer to purchase up to 5,700,000 shares of its common stock at a price per share of $37.00. The price per share of $37.00 represents a change from the price per share of $36.00 that WebMD previously announced on November 3, 2009. The number of shares proposed to be purchased in the tender offer represents approximately 10% of WebMD's currently outstanding shares. The last reported sales price per share of WebMD Common Stock on the NASDAQ Global Select Market on November 9, 2009 was $35.75 per share.

The tender offer will expire at 5:00 p.m., New York City time, on Thursday, December 10, 2009, unless extended by WebMD. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the Offer to Purchase that is being distributed to stockholders.

Currently, WebMD has approximately $1 billion in cash and investments. WebMD will use a portion of its cash and cash equivalents to fund the tender offer.

The Information Agent for the tender offer is Innisfree M&A Incorporated. The Depositary is American Stock Transfer & Trust Company

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