NEW YORK (TheStreet) -- Shares of Yahoo! (YHOO) were declining in pre-market trading on Monday as Verizon (VZ) is weighing how it will proceed with its $4.8 billion acquisition of the technology company after Yahoo disclosed that 500 million accounts were hacked in 2014, the New York Post reports.
Verizon executives were frustrated that Yahoo didn't notify them of the issue sooner, the Post noted, citing sources.
It's unclear when Yahoo became aware of the security breach. The company notified Verizon of the hack last Tuesday.
The telecommunications company may now be looking to exit the deal with Yahoo or renegotiate a price, sources said, according to the Post.
Yahoo said it is working closely with authorities to resolve the issue.
Verizon stock was increasing in pre-market trading on Monday.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
TheStreet Ratings team rates Yahoo as a Hold with a ratings score of C. The primary factors that have impacted the rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, it also finds weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.
You can view the full analysis from the report here:
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