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BRIEF-Verizon says to cut price to acquire Yahoo's operating business by $350 mln
February 21, 2017 / 1:25 PM / 7 months ago

BRIEF-Verizon says to cut price to acquire Yahoo's operating business by $350 mln

Feb 21 (Reuters) - Verizon:

* Verizon and Yahoo amend terms of definitive agreement

* Says under amended terms, Verizon and Yahoo have agreed to reduce price Verizon will pay to acquire Yahoo’s operating business by $350 million

* Says Verizon and Yahoo will share certain legal and regulatory liabilities arising from certain data breaches incurred by Yahoo

* Says Verizon’s acquisition of Yahoo - now valued at approximately $4.48 billion in cash

* Says liabilities arising from shareholder lawsuits and SEC investigations will continue to be responsibility of Yahoo

* Says Yahoo to be responsible for 50 percent of any cash liabilities incurred following closing related to non-sec government investigations

* Says Verizon’s acquisition of Yahoo is expected to close in second-quarter 2017

* Says data breaches or losses arising from them will not be taken into account in determining whether a “business material adverse effect” has occured

* Says Yahoo to be responsible for 50 percent of any cash liabilities incurred following deal closing related to third-party litigation related to breaches Source text for Eikon: Further company coverage:

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