VERIZON ACQUISITION
Yahoo’s net assets get lower price after cybertheft
Verizon will pay $350m less to acquire Yahoo’s internet properties after a major 2013 hacking event
New York — Verizon Communications will acquire Yahoo’s internet properties at a $350m discount after disclosures of security breaches at the web company. The acquisition, now valued at $4.48bn in cash, was expected to close in the second quarter, the companies said on Tuesday. In addition to the price cut, Verizon and the entity that remains of Yahoo after the deal, to be renamed Altaba, will share any continuing legal responsibilities related to the breaches. The move brings Verizon another step closer to adding Yahoo and its billion users as it tries to expand beyond a maturing wireless and landline business into mobile media and advertising ventures. The company is exploring other acquisitions at a time when regulations are loosening and broader merger and acquisition strategies are taking hold under President Donald Trump. The revised terms provided a "fair and favourable outcome" for shareholders, said Marni Walden, Verizon’s executive vice-president and president of product in...
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