Quick Recap: Verizon offers $4.83 Billion to buy Yahoo. Yahoo shortly after has to disclose that they got hacked twice and may have lost close to a billion user accounts information. Verizon of course isn't super excited about that and wants a discount. Yahoo and Verizon reportedly are close to a "revised" deal that could see between a $250 to $350 million dollar discount.
Of course neither party is commenting on this new deal at the time but it isn't to surprising that Verizon would be wanting a deal and it is far less than the rumored $1 Billion dollars that Verizon was rumored to be asking the price to be dropped. The deal doesn't appear to be finalized yet so there is still the potential that things change or fall apart but it could be getting close to finally being done and closing the door on this long and drawn out saga for Yahoo. Reuters has more on the story.
Since last year, Verizon had been trying to persuade Yahoo to amend the terms of the acquisition agreement to reflect the economic damage from two cyber attacks. A source told Reuters that the deal, which could come as soon as this week, will entail Verizon and Yahoo sharing the liability from potential lawsuits related to the data breaches. Another person familiar with the situation said the price cut was likely to be around $250 million, a figure that Bloomberg reported earlier on Wednesday. A representative from Verizon declined to comment. Yahoo did not immediately respond to requests for comment.Click here to read this article!