In light of the biggest data breach in history, Yahoo is in big trouble.
So much so, that Verizon renegotiated the deal.
With the biggest reported cyber-attacks in recent memory, Yahoo has lost its negotiating power. Verizon wants a big price cut of $250 million from the original $4.8 billion purchase price, according to Bloomberg.
Another report claims that the discount might be as much as $350 million. And if delays continue, the price could fall even farther.
According to Tech Times,
People with knowledge of details of the deal revealed that two companies are close to sealing the deal and that an announcement of the latest agreement might be released within the next days or weeks. However, the terms can still change.
Verizon is no dummy.
They won’t be solely on the hook for the mismanagement by Yahoo. Thus, In addition to the big discount, Verizon and the Yahoo entity that will exist following the acquisition will share legal responsibilities linked to the data breaches.
And in another easily foreseen development, once Verizon seals the deal, Yahoo CEO Marissa Mayer will step down from the board, and the company will be renamed Altaba Inc.
I wrote of Mayer a while back in a piece I wrote called, “White women making Oprah money.”
And if the War on Women hasn’t been proven to be enough of a farce, there are eight women on the Bloomberg Pay Index, a daily ranking of the top-paid U.S. executives.
Mayer may need to cut back a bit, however. Since more than 95 percent of which is comprised of stock and options, the value of her comp package has fallen $45 million, says the Bloomberg data. What will she do?
Sell her stock apparently. Then Marissa Mayer will go fight the battle of equality at another company stupid enough to hire her.