WebMD announces repurchase of shares from Icahn Group

WebMD announced that it has entered into an agreement to repurchase all of the shares of WebMD common stock beneficially owned by Carl Icahn and certain of his affiliates, at a purchase price of $32.08 per share, the NASDAQ Official Closing Price of WebMD's common stock on October 18. The total purchase price for the approximately 5.5M shares will be $177.3M and will be funded from WebMD's cash and cash equivalents on hand. This transaction is expected to be completed today.