WebMD (WBMD) Approves $150M Common Tender; Will Buyback at $24.50 - $26.00/Share

WebMD Health Corp. (Nasdaq: WBMD) announced today that it has commenced a tender offer to repurchase up to $150 million of its common stock through a modified "Dutch auction" tender offer, at a price per share of either $24.50 or $26.00. The maximum number of shares proposed to be purchased in the tender offer represents approximately 10.8% of WebMD's currently outstanding shares (including shares of unvested restricted stock). The NASDAQ Official Closing Price of WebMD Common Stock on March 5, 2012 was $24.86 per share.

Currently, WebMD has approximately $1.1 billion in cash and cash equivalents. WebMD will use a portion of its cash and cash equivalents to fund the tender offer.

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