Verizon-Yahoo Acquisition Deal: Will Verizon Back Out Or Seek Discount Over Yahoo’s Data Breach?
October 21, 2016
Verizon placed a $4.83 billion bid to purchase Yahoo earlier this year. The company said on Thursday that it is looking into whether it should renegotiate its offer in light of Yahoo’s massive data breach.
In June, Verizon purchased Yahoo’s core business—advertising, content, search and mobile activities—for $4.83 billion in cash. At the time, Verizon Chairman and CEO Lowell McAdam said: “The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.”