Published: Thu, February 16, 2017
Markets | By Armando Jensen

Verizon, Yahoo! close to deal on lower sale price

Verizon, Yahoo! close to deal on lower sale price

A $250 million haircut for Yahoo shareholders could be a relief, given that reports previously said Verizon wanted a $1 billion price reduction in the deal price.

Verizon is most likely to amalgamate its AOL unit - bought in 2015 for $4.4 billion - with Yahoo's search features, mail and messenger services and advertising assets. That alarmed Verizon officials, who immediately launched their own investigation into the losses. Bloomberg reported earlier today that the price cut for the Yahoo deal could be as low as $250 million.

The reported renegotiations follow months of speculation on whether Verizon would attempt to either revise the deal or walk away from the purchase entirely.

The news follows reports late past year that Verizon was reconsidering the acquisition after a series of hacks at Yahoo.

On tap this weekend: a full moon and a comet
North, Central and South America will have the best views of the eclipse, which will begin at 5:34 p.m. if you're on Eastern Time. Considering an abundance of snow can make hunting a bit hard , some also called February's full moon the "Hunger Moon".

Still, Yahoo recently said it expected the deal with Verizon to close in the second quarter.

Several reports in the USA said Yahoo has now accepted a price cut of up to $350m and agreed to share liability with Verizon for potential lawsuits. This includes the recent reports that a 2013 hack had over a Billion users affected!

VZ, -0.69% and Yahoo Inc. A spokesman for Yahoo did not respond to a request for comment. It was yet another bump in the rocky road for the company, which had failed in yet another turnaround attempt, this time by CEO Marissa Mayer. If Evita Breadsticks can sell her flaming pile for more than $4 billion, we will have to take back nearly everything we've ever said about her* before she takes a deserved senior role in the Mnuchin Treasury Department.

Like this: