NEW YORK ( TheStreet) -- The Yahoo! (YHOO - Get Report) board of directors has unananimously approved a deal to purchase Tumblr for $1.1 billion, according to The Wall Street Journal and the Web site AllThingsD.com.There was no immediate word about whether the Tumblr board had approved the all-cash deal but an announcement by Yahoo! was expected on Monday.
Yahoo! Board OKs $1.1 Billion Deal for Tumblr
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