Billionaire activist investor Carl Icahn has raised his stake in WebMD Health Corp., Reuters reports. The fund manager disclosed a 9.49 percent stake in the firm, in a regulatory filing, up almost 1.5 percent points from the shareholding he disclosed on October 21.
Icahn now holds the single largest stake in WebMD, which had adopted a rights plan to prevent “inadequate or coercive” acquisitions, with the limit set at 12 percent. WebMD offers health information to doctors and other consumers through its online portals and mobile platforms.
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