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WebMD Health Corp. (WBMD) Sank To A New Low For The Year

WebMD Health Corp. (WBMD) announced the preliminary results of its tender offer to repurchase up to $150 million of its common stock through a modified "Dutch auction" tender offer. WebMD expects to acquire 5,769,230 shares of its common stock at a price of $26.00 per share.

WebMD Health gapped open lower Wednesday and declined until the middle of the morning. The stock finished down by 2.42 at $23.29 on above average volume and dropped to a new low for the year.

by RTTNews Staff Writer

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