KKR's Internet Brands buying WebMD in $2.8B deal

By The Associated Press | Posted - Jul. 24, 2017 at 5:27 a.m.



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NEW YORK (AP) — 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 percent 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 percent in premarket Monday trading.

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The Associated Press

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