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Fly News Breaks for July 25, 2017
KKR, WBMD
Jul 25, 2017 | 07:55 EDT
Leerink analyst David Larsen downgraded WebMD (WBMD) to Market Perform from Outperform after the company announced that it has entered into a definitive agreement to be acquired by Internet Brands, a KKR (KKR) portfolio company, in a transaction valued at about $2.8B. The analyst also raised his price target on WebMD's shares to $66.50 from $60.