KKR to buy WebMD for $2.8 bln

Internet Brands, a KKR portfolio company, has agreed to buy WebMD for $2.8 billion. KKR is paying $66.50 a share cash for the company. WebMD is an online health publisher. J.P. Morgan Securities LLC is serving as financial adviser to WebMD and Shearman & Sterling LLP is serving as legal adviser. Simpson Thacher & Bartlett LLP is serving as legal advisor to Internet Brands.

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