Verizon Reduces Yahoo Deal Offer by $250 Million

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A $250 million haircut for Yahoo shareholders could be a relief, given that reports previously said Verizon wanted a $1 billion price reduction in the deal price.

Bloomberg reported the lower offer this morning, additionally claiming that both parties in the deal are expected to share legal responsibilities related to the cyber breaches. Sources have reported that the Verizon could restructure the deal so that it would have to shell out around $250 million to $350 million less than the initially agreed price of $4.83 billion.

The revised deal comes after Yahoo made public two major data breaches after the original $4.8 billion deal was announced in July 2016.

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In September, Yahoo revealed a breach in which 500 million of its accounts had been compromised.

Verizon announced its intention to acquire Yahoo's internet properties a year ago for $4.8 billion. But the deal was repeatedly delayed after revelations of record-breaking data breaches at Yahoo involving more than 1 billion accounts. 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. Yahoo did not immediately have a comment. Verizon and Yahoo are now deciding how each will share future liabilities for the cyber attacks. If Evita Breadsticks can sell her flaming pile for more than $4 billion, we will have to take back nearly everything we've ever said about her* before she takes a deserved senior role in the Mnuchin Treasury Department. Verizon is reportedly close to making the new deal public.

Yahoo CEO Marissa Mayer has presided over a declining business.