WebMD Health (WBMD) Repurchased 641K Shares, Announces $30M Share Buyback
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WebMD Health Corp. (Nasdaq: WBMD) repurchased 640,930 shares of WebMD Class A Common Stock for approximately $12.8 million from the former owners of Subimo, LLC, which was acquired by WebMD in December 2006. In addition, WebMD paid the former owners of Subimo approximately $2.8 million in cash pursuant to the terms of the previously completed Subimo acquisition.
In addition, WebMD announced the authorization of a stock repurchase program. Under the program, WebMD may use up to $30 million to purchase shares of its Class A Common Stock from time to time in the open market, through block trades or in private transactions, depending on market conditions and other factors
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