Navigation Links
HLTH Corporation Announces Preliminary Results of Its Tender Offer
Date:11/26/2008

ELMWOOD PARK, N.J., Nov. 26 /PRNewswire-FirstCall/ -- HLTH Corporation (Nasdaq: HLTH) announced today the preliminary results of its tender offer to purchase up to 80,000,000 shares of its common stock at a price of $8.80 per share, which expired at 5:00 p.m., New York City time on November 25, 2008. Based on the preliminary count by American Stock Transfer & Trust Company, the Depositary for the tender offer, 86,145,082 shares of common stock (including approximately 25 million shares that were tendered through notice of guaranteed delivery) were properly tendered and not properly withdrawn. In accordance with the terms of the tender offer and in compliance with Rule 13e-4(f) of the Securities Exchange Act of 1934, HLTH will purchase an additional 3,699,922 shares pursuant to the tender offer, representing approximately two percent of the number of shares of common stock currently outstanding, the maximum increase permitted without amending or extending the tender offer. Accordingly, HLTH expects to accept for purchase a total of 83,699,922 shares that were properly tendered and not properly withdrawn at a purchase price of $8.80 per share, for a total cost of approximately $736.6 million.

Since the offer was oversubscribed, the number of shares HLTH will purchase from each tendering shareholder will be pro-rated. Based upon the preliminary count, HLTH estimates that the pro-ration factor will be approximately 97.16%. The number of shares tendered and not withdrawn and the pro-ration factor are preliminary and are subject to: verification by American Stock Transfer & Trust Company; the proper delivery of all shares tendered and not properly withdrawn (including shares tendered pursuant to guaranteed delivery procedures); and the impact of odd-lot tenders. The actual number of shares validly tendered and not withdrawn and the pro-ration factor will be announced promptly following completion of the verification process. Promptly after such announcement, the Depositary will issue payment for the shares validly tendered and accepted under the tender offer and will return all other shares tendered. It is currently expected that payment of all shares purchased will be made on or about December 2, 2008.

As of November 25, 2008, HLTH had approximately 185.0 million shares of common stock issued and outstanding. As a result of the tender offer, HLTH expects to have approximately 101.3 million shares of common stock issued and outstanding as of the time immediately following payment for the accepted shares.

The Dealer Manager for the tender offer is Citi. The Information Agent for the tender offer is Innisfree M&A Incorporated. The Depositary is American Stock Transfer & Trust Company. For questions and information, please call the Information Agent toll free at 1-888-750-5834 or the Dealer Manager toll free at 1-877-531-8365.

THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO SELL SHARES OF HLTH CORPORATION COMMON STOCK. THE TENDER OFFER WAS MADE ONLY PURSUANT TO THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS THAT HLTH DISTRIBUTED TO ITS STOCKHOLDERS AND FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. STOCKHOLDERS AND INVESTORS SHOULD READ CAREFULLY THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS BECAUSE THEY CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE TENDER OFFER. STOCKHOLDERS AND INVESTORS MAY OBTAIN A FREE COPY OF THE TENDER OFFER STATEMENT ON SCHEDULE TO, AS AMENDED, THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND OTHER DOCUMENTS THAT HLTH FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AT THE COMMISSION'S WEBSITE AT WWW.SEC.GOV OR BY CALLING INNISFREE M&A INCORPORATED, THE INFORMATION AGENT FOR THE TENDER OFFER, TOLL-FREE AT 1-888-750-5834.

About HLTH

HLTH Corporation (Nasdaq: HLTH) owns approximately 84% of WebMD Health Corp. (Nasdaq: WBMD). 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 and health-focused publications. HLTH also owns Porex, a developer, manufacturer and distributor of proprietary porous plastic products and components used in healthcare, industrial and consumer applications.

All statements contained in this press release, other than statements of historical fact, are forward-looking statements. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements, including risks and uncertainties regarding: changes in financial markets; changes in economic, political or regulatory conditions or other trends affecting the healthcare, Internet, information technology and plastics industries; and changes in facts and circumstances and other uncertainties concerning the completion of the tender offer. Further information about these matters can be found in our Securities and Exchange Commission filings. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect future events or circumstances.

WebMD(R), WebMD Health(R) and POREX(R) are trademarks of HLTH Corporation or its subsidiaries.


'/>"/>
SOURCE HLTH Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. The ScottCare Corporation Completes Acquisition of Rozinn Electronics, a Leading Manufacturer of Cardiac Diagnostic Products
2. Brooke Franchise Corporation Announces Selected July Results
3. MedThink Communications Retained by NanoBio Corporation
4. EaglePicher Corporation Completes Transaction to Sell EaglePicher Boron, LLC to Ceradyne, Inc. for $69 Million
5. Dana Corporation, Inc. Enters Into Settlement Agreement With Dana Retiree Committee
6. Memry Corporation Announces Fiscal Fourth Quarter and 2007 Year End Earnings Release and Conference Call
7. Somanetics Corporation to Release Third Quarter 2007 Financial Results and Host Conference Call September 19
8. LifeQuest World Corporation Proud Contributor to Dietary Supplement Education Alliance (DSEA)
9. DTI Medical Corporation Announces Reverse Split and Other Corporate Developments
10. STERIS Corporation Board of Directors Names Walter M. Rosebrough Jr. President and Chief Executive Officer
11. AGA Medical Corporation Receives Approval for the AMPLATZER Muscular Ventricular Septal Defect Occluder
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... ... 08, 2016 , ... After enjoying record-breaking attendance at its ... its 33rd Annual Issues & Research Conference, March 2-3, 2017, at the ... conference is “Persistent Challenges and New Opportunities: Using Research to Accelerate the Dialogue." ...
(Date:12/8/2016)... ... December 08, 2016 , ... Mirixa Corporation ... adherence, and other pharmacist-delivered patient care services, has announced the promotions of Karen ... to vice president of sales. , Litsinger joined Mirixa in 2008 after ...
(Date:12/8/2016)... ... December 08, 2016 , ... Premier Fitness Camp (PFC) and The Chopra Center ... loss and wellness program, at their world headquarters of Omni La Costa Resort & ... results to anyone seeking weight loss, personal development, a healthy lifestyle, or mental and ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... has been recognized for adherence to the highest standards of trauma, maternity, cancer ... announced the center's president and CEO, Dr. Daniel Messina. , Among the recognitions, ...
(Date:12/8/2016)... ... December 08, 2016 , ... ... Care Act. Dr. Botelho advocates for the mass media launching of story movements ... ongoing opportunities to share their unfortunate experiences; such a movement can generate the ...
Breaking Medicine News(10 mins):
(Date:12/8/2016)... Allergy Diagnostics Market: Scope and Methodology ... are used to determine the presence of allergens ... etc. in the samples by determining the presence ... report on global allergy diagnostics market, analyzes the ... report consists of an executive summary that provides ...
(Date:12/8/2016)... Mass. , Dec. 8, 2016   ... that Nationwide Children,s Hospital signed a ... and accelerate the development of new cures. ... organizations representing over 57 million patients globally, biopharmaceutical ... working together to improve protocol design, site selection, ...
(Date:12/8/2016)... True Health Diagnostics today announced a ... and management expertise to hospital systems throughout ... doctors and patients to benefit from state-of-the-art biomarker ... Logo - http://photos.prnewswire.com/prnh/20161208/447162LOGO ... to contain costs, have struggled to keep up ...
Breaking Medicine Technology: