NEW YORK — KKR is buying health information website WebMD in a deal valued at about $2.8 billion.

WebMD Health Corp. announced in February that it was looking at its strategic options, including a possible sale.

KKR’s Internet Brands, an online media and software services provider and subsidiary of KKR, will pay $66.50 per WebMD share. That’s an approximately 20 percent premium to the New York company’s Friday closing price of $55.19.

WebMD’s board has approved the transaction, which is targeted to close in the fourth quarter.

WebMD’s stock jumped more than 17 percent in premarket Monday trading.

Author photo
The AP is one of the largest and most trusted sources of independent newsgathering. AP is neither privately owned nor government-funded; instead, as a not-for-profit news cooperative owned by its American newspaper and broadcast members, it can maintain its single-minded focus on newsgathering and its commitment to the highest standards of objective, accurate journalism.