Healthcare services and information technology developer Emdeon reported preliminary results of its tender offer to purchase up to 140 million shares of its common stock at a price of $12 per share, which expired yesterday.
The Elmwood Park, NJ-based Emdeon said that it expects to accept for purchase all shares that were properly tendered and not withdrawn, for a total cost of approximately $1.55 billion.
As of December 1 this year, Emdeon said it had approximately 289 million shares of common stock issued and outstanding. As a result of the tender offer, Emdeon expects to have approximately 160 million shares of common stock issued and outstanding as of the time immediately following payment for the accepted shares.
By AuntMinnie.com staff writers
December 5, 2006
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