NEW YORK, July 25, 2017 /PRNewswire/ -- The fairness of the
proposed acquisition of WebMD Health Corp. ("WBMD" or the
"Company") (NASDAQ: WBMD) by private equity firm KKR & Co.
("KKR") is the subject of an investigation by WeissLaw LLP, a
national class action and shareholder rights law firm. The
investigation focuses on possible breaches of fiduciary duty and
other violations of law by the Board of Directors of WBMD for
agreeing to sell the Company to KKR. On July 24, 2017, the Company announced a definitive
agreement for KKR to acquire WBMD in a transaction valued at
approximately $2.8 billion.
Under the terms of the agreement, WBMD shareholders will
receive $66.50 in cash for each WBMD
share they own.
WeissLaw is investigating whether WBMD's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $72.00 per share, or $5.50 above the offer price. Additionally,
on the same day as the acquisition announcement, WBM preliminarily
reported that it expected to exceed its revenue guidance by
approximately $3 million at the
high-end in the second quarter of 2017. It also announced
that it anticipated annual growth of 6% and 8% in net income and
adjusted EBITDA, respectively.
Given these facts, WeissLaw is investigating whether the WBMD
Board acted in the best interests of WBMD's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with KKR. If you own WBMD
shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/webmd-health-corp/
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SOURCE WeissLaw LLP