WebMD Health Corp. (NASDAQ:WBMD) stock was up on Monday following news of a possible buyout.
According to reports, WebMD Health Corp. is entertaining offers from several different bidders concerning a buyout. These reports claim that bidding for the company has surpassed $61 per share.
News of a possible sale has caught the interest of investors, who are driving the price of WebMD Health Corp. stock up. While there is no confirmation that a sale of the company will occur, there has been talk that WBMD is considering a sale, reports CNA Finance.
When it comes down to who is bidding on WebMD Health Corp., there is one name in particular that is popping up. This is internet and media company IAC/InterActiveCorp (NASDAQ:IAC). The word is that IAC is responsible for the bid that values WBMD stock as more than $61 per share.
WebMD Health Corp. first announced that it was interested in pursuing strategic alternatives back in February. It was a month later when reports started to claim that the health information company started the formal process for a sale, reports TheStreet.com.
“IAC likes category killers,” Benchmark analyst Dan Kurnos told Benzinga. “I don’t know if WebMD fits that bill. Besides, how would investors react if IAC did a deal for a content publisher when they’ve done their best to get away from the search space?”
WBMD stock was up 1% as of Monday afternoon and is up 16% year-to-date. IAC stock is down 1% as of Monday afternoon, but is up 63% year-to-date.