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Acquisition   A purchase price of $4.48 billion for Yahoo

Verizon sought $925m discount for Yahoo merger, got $350m

VerizonVerizon Communications sought almost triple the price reduction that it ultimately obtained for Yahoo core assets after two cyber attacks at the internet company.

This is according to a Yahoo filing. The closing of the deal, which Verizon first announced in July for a purchase price of $4.83 billion, had been delayed as the companies assessed the fallout from two data breaches that Yahoo disclosed last year.

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Verizon had been trying to persuade Yahoo to amend the terms of the agreement following the attacks.

In early February, Verizon CEO Lowell McAdam told Yahoo director Tom McInerney a price reduction as high as $925 million could be appropriate, according to the filing.

McInerney later told McAdam at a meeting in Verizon's New York offices that Yahoo's board was unwilling to agree to such a big discount.

Verizon said in late February it had agreed to a purchase price of $4.48 billion, lowering its original offer by $350 million.




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