Cybersecurity
Yahoo Falls After Hack Raises Possibility Verizon May Reconsider
- Security breach occurred in August 2013, company says
- Earlier disclosed hack by ‘state-sponsored actor’ was in 2014
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Yahoo! Inc. fell Thursday after disclosing a second major security breach that may have affected more than 1 billion user accounts, a development that some analysts say may lead Verizon Communications Inc. to reconsider its bid for the main web businesses.
The revelation may drive the market to consider a higher probability of Verizon walking away or renegotiating the $4.8 billion deal price, wrote Joseph Stauff, an analyst at Susquehanna Financial Group, in a note to clients. The shares fell as much as 3.8 percent, to $39.37, the biggest drop in a month.