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WebMD Health Corp latest news:
KKR has eye on health with WebMD, Nature's Bounty deals
(Reuters) - Private equity firm KKR & Co has agreed to buy WebMD Health Corp for about $2.8 billion, bringing a slew of popular online health information websites under one umbrella, and separately said it would buy a major stake in Nature's Bounty Company.
UPDATE 4-KKR has eye on health with WebMD, Nature's Bounty deals
July 24 (Reuters) - Private equity firm KKR & Co has
agreed to buy WebMD Health Corp for about $2.8 billion,
bringing a slew of popular online health information websites
under one umbrella, and separately said it would buy a major
stake in Nature's Bounty Company.
Hasbro and Hibbett sink as WebMD and Nektar climb
Hasbro and Hibbett Sports fall while WebMD Health and Nektar Therapeutics advance
Dow struggles to take flight as Wall Street focuses on earnings; Fed ahead
The U.S. stock market opened slightly lower on Monday to start a week packed with corporate earnings releases and a midweek meeting of the Federal Reserve. The Dow Jones Industrial Average was trading less than 0.1% lower at 21,557, the S&P 500 index was off about 0.1% at 2,470. The Nasdaq Composite Index , meanwhile, was trading flat at 6,390. Wall Street investors were paying attention to weakness in the dollar , and conversely strength in the euro . A weaker dollar tends to give a boost to multinational companies selling goods and services abroad, while a strengthening euro can provide a headwind to European companies selling outside of the eurozone. Market participants also watched a meeting of the Organization of the Petroleum Exporting Countries for signs of any further moves to limit a glut of crude oil, which has weighed on futures prices . In corporate news, the market was watching the tumble in Hibbett Sports Inc. , which was sinking after it said it expected second-quarter sales to slump. Also, Shares of WebMD Health Corp. soared on news that KKR & Co. was looking to take the health-care information company private. Looking ahead, Google-parent Alphabet Inc. is set to report after the close of trade on Monday. Further out, the Fed kicks off its two-day policy meeting on Tuesday, with the central bank not expected to lift interest rates further, but clues about its policy plans and the state of the U.S. economy will be closely tracked in its updated statement. In economic news, the IHS Markit flash purchasing managers index, a key business survey, came in at 55.8--lower than the 56.2 analysts had expected, and a six-month low for the index. A reading above 50 indicates economic growth.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
WebMD to be bought by KKR's Internet Brands for $2.8 billion
WebMD Health Corp. announced an agreement Monday to be acquired by KKR & Co. LP's Internet Brands in a deal valued at $2.8 billion. Under terms of the deal, WebMD shareholders will get $66.50 in cash for each share they own, a 20.5% premium to Friday's closing price of $55.19. The deal is expected to close during the fourth quarter. The deal comes after the health information services company announced in February that it was commencing a process to explore strategic alternatives. "We believe that this transaction will provide additional flexibility and resources to deliver increased value to consumers, healthcare professionals, employers, and health plan participants," said WebMD Chief Executive Steven Zatz. The stock, which is currently halted for news, was up 18% prior to the halt. It has run up 11.3% year to date through Friday, while the SPDR Health Care Select Sector ETF has climbed 17.5% and the S&P 500 has gained 10.4%. KKR's stock has soared 25.9% this year.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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