The Firm is representing Internet Brands, a KKR portfolio company, in connection with its proposed acquisition of WebMD Health Corp. (NASDAQ: WBMD) in a transaction valued at approximately $2.8 billion. The transaction is structured as a tender offer for all of the outstanding shares of WebMD common stock for $66.50 per share in cash. The transaction is subject to the satisfaction of customary closing conditions and is expected to close during the fourth quarter of 2017.
WebMD is the leading provider of health information services, serving consumers, physicians, healthcare professionals, employers and health plans through its public and private online portals, mobile platforms and health-focused publications.
The Simpson Thacher team includes Marni Lerner, Michael T. Holick, William Allen, Kyle Spies and Wossen Ayele (M&A); Adam Moss, Jim Russell and Michael Panzer (Credit); Joseph Kaufman (Capital Markets); David Rubinsky, Alisa Tschorke and Michael Cook (Employee Benefits and Executive Compensation); Sophie A. Staples (Tax); Peter Guryan and Ellen Frye (Antitrust); Adeeb Fadil and Noreen Lavan (Environmental); Lori Lesser, Marcela Robledo, Amber Harezlak and Alex Moser (Intellectual Property); and Krista McManus and Dennis Loiacono (Real Estate). Summer Associates Raul Duran, Joshua Harris, Terry Kim, Jessica Levy and David Wuchenich provided valuable assistance.