Icahn Begins WebMD Activism

Carl Icahn may be starting an activist run in WebMD Health Corp. (NASDAQ:WBMD). An SEC filing made this morning by the company revealed that it was increasing the size of its board of directors from eleven to twelve. The new director will be appointed by Carl Icahn.

Icahn has been increasing its stake in the company since January when the firm stopped its efforts to sell itself. As of April Icahn’s holdings in the company stood at over 13%. Today’s move shows that he has a sustained interest in the company and is willing to get involved at the highest level.

Icahn’s nominee to the board is David...