WebMD Puts Up $177M To Buy Back More Icahn Shares

Law360, New York (October 21, 2013, 11:49 AM EDT) -- Health information website WebMD Health Corp. will cough up $177.3 million to buy back roughly 5.5 million shares currently owned by activist investor Carl Icahn, it said Monday, essentially wiping out the billionaire's stake after he began winding it down last month.

The New York-based company said it will pay $32.08 for each of the 5.5 million shares covered in the deal, matching Friday's close on the Nasdaq. After the transaction closes, expected on Monday, Icahn will have cut his WebMD virtually completely from the 13.3...
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