|h/t Sr K|
10:14 am Yahoo! completes sale of its operating business to Verizon ( VZ) for $4,475,800,000, subject to certain pre-closing and post-closing adjustments as provided in the underlying definitive stock purchase agreement ( YHOO) :
- Following the sale, the Company's remaining assets consist of an approximately 15% equity stake in Alibaba Group Holding Limited; an approximately 36% equity stake in Yahoo Japan Corporation; cash, cash equivalents and marketable debt securities; certain minority investments; and Excalibur IP, LLC, which owns certain patent assets that were not core to Yahoo's operating business. Its retained liabilities include the Company's 0.00% convertible senior notes due 2018; shareholder litigation; and certain liabilities relating to data breaches incurred by Yahoo.
- The Company's headquarters have been relocated to New York City.The Company's common stock will continue to trade on the NASDAQ Global Select Market under the ticker symbol "YHOO" through June 16, 2017. Beginning on June 19, 2017, shares of common stock of Altaba Inc. will begin trading under the ticker symbol "AABA".
- As previously announced, on June 16, 2017, the Company will change its name to "Altaba Inc."