HLTH, WebMD End $2.31 Billion Merger Deal

By: Associated Press Email
By: Associated Press Email

Stay up-to-date with KAKE News:

HLTH and its subsidiary WebMD Health say they have canceled a $2.31 billion cash-and-stock based merger because of recent turmoil in the financial markets.

The boards of directors of both companies favored ending the deal, the companies say.

"The boards of directors of HLTH and WebMD believe that, in the current economic environment, it is important for a growth company like WebMD not to be encumbered by $650 million in long-term debt that would be coming due in 18 to 36 months," said Martin J. Wygod, chairman of HLTH and WebMD, in statement.

HLTH holds an 84% stake in WebMD.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KAKE TV 1500 N. West Street Wichita, KS 67203-1323 (316) 943-4221
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 31275379 - kake.com/a?a=31275379
Gray Television, Inc.