WebMD Health expects October meeting on HLTH deal

WebMD Health Corp., an online health information provider, said Tuesday it expects to hold shareholder meetings in October to seek approval for a merger with its parent company, a $2.31 billion deal proposed in February.

New York-based WebMD did not specify a meeting date in October, but said the company and its parent, HLTH Corp., expect to hold meetings that month assuming they secure timely clearance from the Securities and Exchange Commission. Those meetings would also serve as the annual shareholder meetings for both HLTN and WebMd.

The companies said they expect to jointly file a preliminary proxy statement and prospectus about the merger shortly after they make their quarterly filings following WebMD's second-quarter earnings, which were also announced Tuesday.

Elmwood Park, N.J.-based HLTH Corp. said in February that it would merge into its WebMD subsidiary in a cash-and-stock transaction. HLTH already owns a majority stake in WebMD, and plans to become part of WebMD under the deal.

The merger will eliminate both the controlling class of WebMD stock held by HLTH and WebMD's existing dual-class stock structure.