Cybersecurity
Yahoo, Verizon Agreement Nears After Shareholder Approval
- Deal with telecom set to close on June 13, web portal says
- The $4.48 billion acquisition was first announced last year
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Yahoo! Inc. shareholders approved the $4.48 billion sale of the company’s main web properties to Verizon Communications Inc., clearing the last major hurdle for a deal announced almost a year ago.
The company said it expects to hand over its web assets to the telecommunications giant on June 13, according to a statement Thursday. The transaction had earlier been delayed by revelations of massive privacy breaches and a reduction in the price from $4.8 billion.