Verizon is still going to buy Yahoo despite the revelation of massive security breaches within the company.
Yahoo isn't getting off scot-free. The new deal will be $350 million lighter than the original, according to a press release issued on Tuesday by Yahoo. In other words, Verizon was able to knock off 7 percent from the original deal price.
Investors had clearly been braced for a bigger hit to Yahoo. News that the deal would still go through began to emerge last week, when Bloomberg reported that Verizon had renegotiated $250 million off the deal price.
That sent shares in Yahoo sharply higher. Read more...
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