Verizon announced its intention to acquire Yahoo’s internet properties last year for $4.8 billion. However, the company was forced to reconsider its price after a massive cyberattack that Yahoo suffered became public. While there was a lot of speculation about the attack and a lot of finger-pointing as well, there were reports that Verizon would seek a discount from Yahoo. According to a new report, Verizon wants to shave off $250 million from the original deal.
Bloomberg News is reporting that Verizon is “getting close” to a renegotiated deal for Yahoo’s internet properties. The company is said to be reducing the price of the original offer by as much as $250 million, the scribe says, citing people familiar with the matter.
There hasn’t been an official confirmation of this just yet by either Verizon or Yahoo but if this is really going to happen, it would be made public soon since both happen to be publicly listed companies and are required to share material information such as this.
The report doesn’t mention if this is a figure that both companies have agreed on or if Verizon wanted a bigger discount at first but was persuaded by Yahoo to cap it at $250 million. It was even reported at one point that Verizon was actually thinking about giving up on the deal altogether. We can expect these deals to filter out in the coming days.