Verizon Seeks $1 Billion Discount On Yahoo Acquisition Price Following Security Breach Disclosure
Verizon's plan was to mesh Yahoo with AOL, the latter of it purchased a year ago for $4.4 billion. However, AOL CEO Tim Armstrong may be looking at ways to back out of the deal after it came to light that Yahoo failed to disclose
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"In the last day we’ve heard that Tim is getting cold feet. He’s pretty upset about the lack of disclosure and he’s saying can we get out of this or can we reduce the price?," a source who's supposedly familiar with Verizon’s thinking told New York Post.
The more likely scenario is a reduced acquisition price. It's said that Tim and Yahoo CEO Marissa Mayer are currently in talks, though it's not clear if Yahoo's willing to negotiate another deal.
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