KKR’s Internet Brands buying WebMD in $2.8B deal
NEW YORK – KKR is buying health information website WebMD in a deal valued at about $2.8 billion.
WebMD Health Corp. announced in February that it was looking at its strategic options, including a possible sale.
KKR’s Internet Brands, an online media and software services provider and subsidiary of KKR, will pay $66.50 per WebMD share. That’s an approximately 20 per cent premium to the New York company’s Friday closing price of $55.19.
WebMD’s board has approved the transaction, which is targeted to close in the fourth quarter.
WebMD’s stock jumped more than 17 per cent in premarket Monday trading.
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