Yahoo & it’s shareholders have officially approved the sale to Verizon that will be set to close on Tuesday. The deal closes at $4.48 billion for the company that has seen a struggling past. Yahoo alongside AOL (two names that yes still exist) will be combining under Verizon in a new company called “Oath”.
Alongside the transition Yahoo CEO Marissa Meyer will be stepping down & Verizon will be issuing a 15% employee cut. Given Yahoo’s recent password hack the original asking price was lowered by $350 million. In the event of said sale Yahoo’s stock has gone up by a little over 9%. Verizon has stated this acquisition & merger of both companies is a combined scale effort. Looking to increase growth leveraging both Yahoo & AOL’s user. Oath is set to act as a B2B branding company. In much simpler terms it’s a unified brand for Verzion to pitch out to investors & the public while keeping Verizon it’s own separate entity. A marketing ploy.
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Two unlikely names combining under another time can only tell how Oath will benefit the future of Verizon.