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HLTH begins tender offer for up to 43% of outstanding shares
By Lisa Kerner
Charlotte, N.C., Oct. 27 - HLTH Corp. began its tender offer to purchase up to 80 million shares, or approximately 43%, of its outstanding common stock at a price per share of $8.80.
The company's stock (Nasdaq: HLTH) closed at $8.06 on Oct. 24.
According to an HLTH news release, the tender offer will end at 5 p.m. ET on Nov. 25, unless extended.
The offer is conditioned on a minimum of 40 million shares being properly tendered and not withdrawn.
It was previously reported that HLTH revised its purchase to 80 million shares at $8.80 each, from 50 million shares at $9.20 each.
HLTH said it will use a portion of its cash and investments, totaling approximately $1.3 billion, to fund the tender offer.
Citi is the dealer manager for the offer, and the depositary is American Stock Transfer & Trust Co.
Information agent is M&A Inc. (888 750-5834).
HLTH, formerly Emdeon Corp., is a health-care business, technology and information services company based in Elmwood Park, N.J.
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