Verizon to Pay $4.48 Billion for Yahoo
Posted by: Timothy Weaver on 02/21/2017 07:30 AM
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It looks like the merger of Yahoo and Verizon is going to go through.
The two companies have come to a final agreement. Verizon is offering $4.48 billion for Yahoo and Yahoo has agreed to continue its liability for any lawsuits arising from the massive breaches that took place in 2013 and 2014. The offer is a reduction of $350 million.
The agreed upon terms stipulate that Yahoo and Verizon will split the cash liabilities resulting from government probes (excluding any from the Securities and Exchange Commission) and third-party litigation related to the breaches. "Liabilities arising from shareholder lawsuits and SEC investigations will continue to be the responsibility of Yahoo," the statement added.
"We have always believed this acquisition makes strategic sense," Marni Walden, Verizon executive vice president and president of product innovation and new businesses, said. "We look forward to moving ahead expeditiously so that we can quickly welcome Yahoo's tremendous talent and assets into our expanding portfolio in the digital advertising space."
The purchase is expected to be finalized in the second quarter of 2017.
Source: SCMagazine
The two companies have come to a final agreement. Verizon is offering $4.48 billion for Yahoo and Yahoo has agreed to continue its liability for any lawsuits arising from the massive breaches that took place in 2013 and 2014. The offer is a reduction of $350 million. The agreed upon terms stipulate that Yahoo and Verizon will split the cash liabilities resulting from government probes (excluding any from the Securities and Exchange Commission) and third-party litigation related to the breaches. "Liabilities arising from shareholder lawsuits and SEC investigations will continue to be the responsibility of Yahoo," the statement added.
"We have always believed this acquisition makes strategic sense," Marni Walden, Verizon executive vice president and president of product innovation and new businesses, said. "We look forward to moving ahead expeditiously so that we can quickly welcome Yahoo's tremendous talent and assets into our expanding portfolio in the digital advertising space."
The purchase is expected to be finalized in the second quarter of 2017.
Source: SCMagazine
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