Verizon Wants $1 Billion Discount After Yahoo Privacy Concerns

It’s bad news for Yahoo. The company is in the midst of finalizing its sale to Verizon, but recent revelations about hacking and spying may be costing them a pretty penny. A story from the New York Post alleges that Verizon is now asking Yahoo for a hefty $1 billion discount to finalize what was supposed to be a $4.8 billion deal. (Full disclosure: TechCrunch is owned by Verizon, although we do not have any inside knowledge about this). “The key will be what was actually disclosed by Yahoo before signing,” Frank Aquila, legendary M&A lawyer and partner at Sullivan & Cromwell tells TechCrunch. “No one should be surprised that Verizon wants a significant reduction.”

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