Icahn Raises Stake in WebMD (WBMD) to 11.64%; Amends Dutch Tender Recommendation Amid 'Significant' Guidance Disappointment
Tweet
Share
E-mailGet Alerts WBMD Hot Sheet
Join SI Premium – FREE
In a 13D filing on WebMD Health Corp. (NASDAQ: WBMD), hedge fund Carl Icahn disclosed a 11.64%, or 6,632,680 share, stake in the company. This is up 16.52% from the 5,692,274 shares held according to a filing on November 28th.
Icahn said WebMD should repurchase up to $1 billion in common stock through a Dutch auction with $30 per share at the high end of the price range. A prior filing had urged the company to buy back the same amount of shares but with a high end of $36 per share. The change "reflects the news of the Issuer's most recent significant financial guidance disappointment and the termination of its sale process."
For more notable holders of WebMD Health Corp. stock click here. For more information on Carl Icahn click here.
Icahn said WebMD should repurchase up to $1 billion in common stock through a Dutch auction with $30 per share at the high end of the price range. A prior filing had urged the company to buy back the same amount of shares but with a high end of $36 per share. The change "reflects the news of the Issuer's most recent significant financial guidance disappointment and the termination of its sale process."
For more notable holders of WebMD Health Corp. stock click here. For more information on Carl Icahn click here.
Create E-mail Alert Related Categories
13Ds, Hedge FundsRelated Entities
Carl Icahn, Hedge Funds, 13DSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
