Yahoo's Operating Business to Be Acquired by Verizon for $4.83 Billion
On July 25, 2016, Verizon Communications and Yahoo! announced that they have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash. Wilson Sonsini Goodrich & Rosati is part of the team advising Yahoo and its board of directors in the transaction.
According to a joint press release, Yahoo will be integrated with AOL, which was acquired by Verizon in 2015. The transaction is expected to close in the first quarter of 2017 and is subject to customary closing conditions, approval by Yahoo's shareholders, and regulatory approvals. Until the closing, Yahoo will continue to operate independently.
For more information, please see the companies' joint press release.