My second try at odd-lot tender offers: WebMD Health (WBMD)

Value investing

If you want to learn Excel, keep reading or Get 10 days of free unlimited access to for professional help and Excel Tutorials

Following up on my previous post, I decided to give odd-lot tenders another try and bought 99 shares of WBMD at $50.70 last Thursday. currently has an odd-lot tender offer expiring September 8 to purchase properly tendered shares at $52. The company had previously made 3 other tender offers at $45.80, $46.80, and $50 since April of this year.

Unlike the , WebMD’s price is already set and will not go through a Dutch auction process. However, there is also additional risk involved as a clause included in the specified that the tender offer may be amended, postponed or cancelled if “a decrease of more than 10% in the market price for the shares, the Dow Jones Industrial Average, the NASDAQ Composite Index or the S&P 500 Composite Index since the date of the Offer” occurs. This appears to be pretty standard verbiage in tender offers; however, since the tender offer was announced on August 10th, these indices have decreased 6-8% so far:

With September 8th being just around the corner, I’ll watch the stock closely and likely submit my decision to tender closer to the expiration date than I did for FIS. It will be interesting to see how this one turns out.

Update: yesterday (August 30) referenced above in their latest update to their tender offer statement. Looks good so far!

Update 9/15/10: Received cash for this transaction, 99 shares @ $52 today. All’s well!


Look Good at Work and Become Indispensable Become an Excel Pro and Impress Your Boss


4 Feedbacks on "My second try at odd-lot tender offers: WebMD Health (WBMD)"


Great post. Odd Lot Tenders are a great way for small investors to profit. I cover these investments at for anyone that is Interested.


Another similar service for tracking odd lot tenders


Ahaa, its good discussion on the topic of this piece of writing at this place at this web site, I have read all that, so now mee
also commenting aat this place.

Back Pain

I have read some just right stuff here. Certainly
price bookmarking for revisiting. I surprise how so much effort you
place to create the sort of wonderful informative website.


Please Leave a Comment!

Please note: Comments may be moderated. It may take a while for them to show on the page.