Verizon Communications Inc. (VZ) to Buy Yahoo! Inc. (YHOO) at Discount


According to Bloomberg News, the telecommunications company wants to lower the price of the $4.8 billion deal by $250 million. Yahoo admitted two major intrusions in 2016.

Yahoo has issued customers with a third warning over a potential cyber threat to their accounts, raising further questions around Verizon's proposed takeover of the embattled internet company.

Two massive Yahoo security breaches that came to light in 2016 spurred Verizon's move, reports Bloomberg. The declaration took after news in September 2014 breach that affects no less than 500 million of user's accounts.

Contrary to the current popular belief, Verizon stated that purchasing Yahoo would increase its customer base.

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But according to a source, Yahoo is trying to renegotiate the deal wbyith giving a discount of $300M of the price to save the sale.

The original takeover deal was agreed in July, with Verizon purchasing Yahoo's core Internet businesses, which include its email service, sports verticals and various apps. "Yahoo is in the process of notifying all potentially affected account holders", a Yahoo spokesperson confirmed to ZDNET.

The latest hack appears to involve the use of forged cookies, which allowded attackers to access people's accounts without re-entering their passwords.

Verizon Communications Inc. and Yahoo Inc. are closing in on a revised deal. In addition, as soon as the merger is effected, Marissa Mayer, CEO of Yahoo will have to step down from the board of directors, as the new formed company acquires the name 'Altaba Inc.'.

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Yahoo has been under pressure to cement the deal for some time.

As of February 13, marketing analyst Craig Smith estimated that Yahoo's network of websites had more than 800 million unique visitors across desktop and mobile devices.

Online sources point out to Verizon asking for a $300 million discount.

The leaks did not affect Yahoo!'s fourth quarter earnings, with the company reporting profits of US$162 million, compared to a loss of US$4.43 billion in the corresponding quarter a year ago.

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