A new SEC document has revealed that when Verizon makes its purchase of Yahoo Inc, certain stipulations are in place that will see the company's name change to Altaba Inc. and the current CEO, Marissa Mayer will resign along with other current executives. This is all of course only if Verizon chooses to close the deal and purchase Yahoo.
While at one time it was the "go to" website for Internet searches, Yahoo has since become a muddled mess of a company. Last year, rumors began spreading that some were interested in purchasing the search giant, with Verizon ultimately becoming the purchaser for nearly $5 billion.
Unfortunately, a few months after the purchase, Yahoo made a data breach public, which Verizon was only privy to a couple days ahead of the public notice. It goes without saying that Verizon didn't take the incident lightly, requesting that $1 billion be knocked off the price as they might abandon the purchase. Things would get even worse for Yahoo as it would disclose yet another data breach, straining the deal with Verizon even further.
Source: Yahoo / The Independent
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