Deals
WebMD Ripe for Deal on Record Cash After Luring Icahn: Real M&A
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WebMD Health Corp., which lured Carl Icahn and George Soros after plunging as much as 54 percent this year, may now draw private equity bidders with its record cash and the lowest valuation among Internet content companies.
After losing $1.9 billion in market capitalization in 2011, the medical-information company traded yesterday at 3.1 times revenue, the cheapest price-to-sales ratio of any Internet content provider greater than $1 billion, according to data compiled by Bloomberg. WebMD’s cash has topped $1 billion the last three quarters, the highest level since it went public in 2005 and the biggest holding in the industry.