TheStreet Says WebMD (WBMD) Might Be Considering Sale; Shares React
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After trading in the red throughout most of Tuesday's session, shares of WebMD Health Corp. (Nasdaq: WBMD) rose over 12.5 percent following a rumor from TheStreet.com (NYSE: TST) which suggested execs are considering options including a sale, possibly to a private equity firm.
TheStreet.com said WebMD hired Credit Suisse to help with the review.
Carl Icahn, currently the second largest shareholder in WebMD with more than 4.5 million shares, recently increased his position and said shares are undervalued on a long-term perspective.
Shares of WebMD have tumbled about 30 percent this year from over $51 in January to around $35.50 Tuesday.
TheStreet.com said WebMD hired Credit Suisse to help with the review.
Carl Icahn, currently the second largest shareholder in WebMD with more than 4.5 million shares, recently increased his position and said shares are undervalued on a long-term perspective.
Shares of WebMD have tumbled about 30 percent this year from over $51 in January to around $35.50 Tuesday.
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