KKR's Internet Brands closes WebMD deal

NEW YORK — WebMD Health and Internet Brands, a KKR portfolio company, announced Friday the successful completion of the previously announced cash tender offer.



With that news, the parties anticipate that they will complete the merger today.  Upon completion of the merger, WebMD will become a wholly owned subsidiary and WebMD's common stock will cease trading on the NASDAQ. 



As of the expiration of the tender offer, almost 30.6 million shares of common stock of WebMD representing 78.7% of the issued and outstanding shares of WebMD (including restricted shares), were tendered into and not withdrawn from the tender offer.



In addition, 2.4 million shares of common stock of WebMD have been tendered by guaranteed delivery, representing approximately 6.2% of the then issued and outstanding shares (including restricted shares) of WebMD.



All conditions to the tender offer have been satisfied or waived and Diagnosis Merger Sub accepted for payment, and expects to promptly pay for, all shares validly tendered into and not withdrawn from the tender offer in accordance with the terms of the tender offer.