Icahn Buys 7.94% Stake in WebMD; Shares Rise in Extended Trading

Oct. 21 (Bloomberg) -- Billionaire Carl Icahn bought a 7.94 percent stake in WebMD Health Corp. and said the shares are undervalued from a long-term perspective, according to a regulatory filing.

WebMD rose as much as $2.29, or 7.1 percent, to $34.68 in extended trading after Icahn’s filing.

To contact the editor responsible for this story: Vivek Shankar at vshankar3@bloomberg.net