IFLR1000

Verizon $4.48 billion acquisition of Yahoo! internet properties

13/6/2017
Public acquisition
Select tab

$ 4.48 billion

Completed

13/6/2017

Overview:

  • Verizon has completed its acquisition of Yahoo!'s internet properties in a $4.48 billion deal.
  • The acquisition does not include Yahoo!'s cash or shares in Alibaba and Yahoo Japan.
  • Verizon is combining Yahoo! with AOL to form an entity that will go under the name Oath.
  • The deal was first announced in July 2016 with the original figure set at $4.83 billion.
  • The price was lowered following a renegotiation once it was revealed that Yahoo! had been successfully hacked in 2013.
  • The hackers stole sensitive user information.
  • Following the completed merger, Yahoo! CEO Marissa Mayer resigned.

Kurt Stumpo - Journalist

 

Jurisdiction:

United States

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

United States

Industry sector:

Technology and telecommunications

Firms:
Covington & Burling

Party: Verizon (Acquirer)

Cravath Swaine & Moore

Party: Yahoo! (Target)

Lawyer: Faiza Saeed

Gibson Dunn & Crutcher

Party: Verizon (Acquirer)

Lawyer: Daniel Angel

Skadden Arps Slate Meagher & Flom

Party: Yahoo! (Target)

Lawyer: Marc Packer

Wachtell Lipton Rosen & Katz

Party: Verizon (Acquirer)

Lawyer: Steven Rosenblum

Weil Gotshal & Manges

Party: Yahoo! (Target)

Lawyer: Frederick Green

Wilson Sonsini Goodrich & Rosati

Party: Yahoo! (Target)

Lawyers: Bradley Finkelstein, Douglas Schnell, Larry Sonsini

Winston & Strawn

Party: Verizon (Acquirer)

Related deals