Written Communication by the Subject Company Relating to a Third Party Tender Offer (sc14d9c)
24 Julio 2017 - 3:16PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE
14D-9
(Rule
14d-101)
Solicitation/Recommendation Statement
Under Section 14(d)(4) of the Securities Exchange Act of 1934
WEBMD HEALTH CORP.
(Name of Subject Company)
WEBMD HEALTH
CORP.
(Name of Persons Filing Statement)
Common Stock,
$0.01 par value per share
(Title of Class of Securities)
94770V 10 2
(CUSIP
Number of Class of Securities)
DOUGLAS W. WAMSLEY, ESQ.
WEBMD HEALTH CORP.
395
HUDSON STREET
NEW YORK, NEW YORK 10014
(212) 624-3700
(Name, address and telephone number of person authorized to receive notices and communications
on behalf of the persons filing statement)
Copies to:
CREIGHTON OM CONDON, ESQ.
SCOTT PETEPIECE, ESQ.
SHEARMAN & STERLING LLP
599 LEXINGTON AVENUE
NEW
YORK, NY 10022
(212)
848-4000
☒
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Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.
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This Schedule
14D-9C
consists of the following documents relating to the
proposed acquisition of WebMD Health Corp. (
WebMD
or the
Company
), a Delaware corporation, pursuant to the terms of an Agreement and Plan of Merger dated as of July 24, 2017, among the Company, MH SUB I,
LLC (
Parent
), a Delaware limited liability company, and Diagnosis Merger Sub, Inc. (
Purchaser
), a Delaware corporation and a wholly-owned subsidiary of Parent. Parent and Purchaser are both affiliates of
Internet Brands, a portfolio company of investment funds affiliated with Kohlberg Kravis Roberts & Co. L.P.:
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(i)
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a joint press release issued by the Company and Internet Brands, dated July 24, 2017, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference;
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(ii)
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email to the Companys employees from the Companys Chief Executive Officer, Steven Zatz, M.D., a copy of which is filed as Exhibit 99.2 and is incorporated hereto by reference, first used or made
available on July 24, 2017; and
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(iii)
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frequently asked questions, a copy of which is filed as Exhibit 99.3 and is incorporated hereto by reference, first used or made available to the Companys employees on July 24, 2017.
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Notice to Investors
This communication is provided for
informational purposes only and is neither a recommendation, an offer to purchase nor a solicitation of an offer to sell any securities of WebMD. The tender offer for the outstanding common stock of WebMD has not yet commenced. Any offers to
purchase or solicitation of offers to sell will be made only pursuant to the tender offer statement (including the offer to purchase, the letter of transmittal and other documents relating to the tender offer) which will be filed on Schedule TO by
Parent and Purchaser with the U.S. Securities and Exchange Commission (the
SEC
) at the time the tender offer is commenced, and soon thereafter WebMD will file a Solicitation/Recommendation Statement on Schedule
14D-9
with respect to the tender offer. WebMDs stockholders are advised to read these documents and any other documents relating to the tender offer that will be filed with the SEC carefully and in their
entirety because they contain important information, including the various terms of, and conditions to, the tender offer. The offer to purchase, the related letter of transmittal and certain other tender offer documents, as well as the
Solicitation/Recommendation Statement, will be made available to all stockholders of WebMD at no expense to them. WebMDs stockholders may obtain copies of these documents (when available) for free at the SECs website at www.sec.gov or by
contacting Investor Relations at WebMD, 395 Hudson Street, 3rd Floor, New York, NY 10014; telephone number (212)
624-3700.
Forward-Looking Statements
Certain statements in this
Schedule
14D-9C
may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements relate to a variety of matters, including but
not limited to, the timing and anticipated completion of the proposed transaction, and other statements that are not purely statements of historical fact. These forward-looking statements are made on the basis of the current beliefs, expectations
and assumptions of the management of WebMD, and are subject to significant risks and uncertainties. These risks and uncertainties include, without limitation, risks and uncertainties related to: whether the proposed transaction will close; the
timing of the closing of the proposed transaction; the outcome of the regulatory reviews of the proposed transaction; the ability of the parties to complete the proposed transaction; the ability of the parties to meet other closing conditions; how
many WebMD stockholders tender their shares in the proposed transaction; the outcome of legal proceedings that may be instituted against WebMD and/or others related to the proposed transaction; unexpected costs or unexpected liabilities that may
result from the proposed transaction, whether or not consummated; the possibility that competing offers will be made; effects of disruption from the proposed transaction making it more difficult to maintain relationships with employees, customers
and other business partners; and regulatory submissions.
Investors are cautioned not to place undue reliance on any such forward-looking statements. All
such forward-looking statements speak only as of the date they are made. Factors or events that could affect the proposed transaction or cause WebMDs actual results to differ may emerge from time to time, and it is not possible for WebMD to
predict all of them. Except as required by law or regulation, WebMD undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events, circumstances or otherwise. Forward-looking statements are subject to a
number of risks and uncertainties, including without limitation, those described in Part I, Item 1A. Risk Factors in WebMDs Annual Report on Form
10-K
filed with the SEC. WebMD may update
risk factors from time to time in Part II, Item 1A. Risk Factors in Quarterly Reports on Form
10-Q,
Current Reports on Form
8-K,
or other filings with the
SEC.
EXHIBIT INDEX
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Exhibit
Number
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Description
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99.1
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Joint Press Release issued by the Company and Internet Brands, dated July 24, 2017
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99.2
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Email to the Companys employees from the Companys Chief Executive Officer, Steven Zatz, M.D., a copy of which is filed as Exhibit 99.2 and is incorporated hereto by reference, first used or made available on
July 24, 2017
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99.3
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Frequently asked questions, a copy of which is filed as Exhibit 99.3 and is incorporated hereto by reference, first used or made available to the Companys employees on July 24, 2017
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