Verizon to Reportedly Receive Discount on Yahoo Acquisition
Verizon is reportedly receiving a $250 million discount on its pending acquisition of Yahoo.
Verizon Communications (VZ) - Get Report will receive a $250 million discount on its pending acquisition of Yahoo! (YHOO) , which was initially a deal valued at $4.8 billion. The news of the revised deal was first reported by Bloomberg. The discount comes after Yahoo! failed to disclose data breaches. One occurred in 2014, affecting some 500 million users, while a 2013 hack affected 1 billion users. Shares of Yahoo! rose following the news. TheStreet's Scott Gamm reports from Wall Street.
