WebMD Sale Off the Table, Shares Drop 27%
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The company also said that net income will be “significantly lower” in 2012 as drugmakers cut back on marketing and competition from social networking sites increases.
WebMD was undergoing due diligence by potential acquirers when it decided to break off talks, the company said in a statement. one of those companies is said to have been Yahoo (NASDAQ:YHOO), which was interested in owning WebMD as part of a tax-efficient asset swap with Alibaba and Softbank Corp.
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