Verizon will now pay out $4.48 billion for Yahoo, which is $350 million less than the original deal in place, primarily due to the legal and regulatory liabilities that the companies will share as part of the new terms.
“The amended terms of the agreement provide a fair and favorable outcome for shareholders,” said Marni Walden, Verizon executive vice president and president of Product Innovation and New Businesses, in a press release issued. “It provides protections for both sides and delivers a clear path to close the transaction in the second quarter.”
In September, Yahoo disclosed a breach that impacted 500 million user accounts, while a separate breach affecting more than 1 billion additional user accounts was disclosed in December.
The company recently alerted users impacted by the breaches that their accounts may have been compromised as a result state-sponsored attackers leveraging a cookie forging attack.