Verizon Said to Announce $4.8 Billion Yahoo Takeover Monday

 25 Jul 2016 - 0:00

Verizon Said to Announce $4.8 Billion Yahoo Takeover Monday

Verizon Communications Inc. will announce its plans to buy Yahoo! Inc. for about $4.8 billion on Monday, according to a person with direct knowledge of the situation.

The takeover is expected to be announced before the market opens, the person said, asking not to be identified because the information isn’t public. The deal includes Yahoo real estate assets, while intellectual property assets are expected to be sold separately, the person said.

A transaction stands to end months of speculation over the fate of Yahoo after it began to explore strategic alternatives. The deal will add the iconic web pioneer and its millions of daily users to Verizon’s growing stable of media properties and will also likely to bring to an end the tumultuous reign of Yahoo Chief Executive Officer Marissa Mayer, who tried and failed to re-invent Yahoo as an independent company.

Verizon spokesman Bob Varettoni declined by e-mail to comment. Yahoo spokeswoman Rebecca Neufeld didn’t immediately respond to a request for comment.

Yahoo will keep its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp.

Bloomberg