Verizon Communications Inc. is finally going to announce it’s plans to buy out Yahoo! Inc.’s core assets for about $4.8 billion on Monday, the deal will end months long speculation about Yahoo’s future after the company announced its plans to review its strategic alternatives in February. Bloomberg was first to report that the deal would be announced on Monday for $4.8 billion.
The announcement is to come before the start of New York trading hours,said a person who’s in direct contact with the deal who asked not to be identified as information isn’t public. The deal includes Yahoo Real estate assets,it’s advertising technology tools, as well as other assets such as search, mail and messenger. Yahoo will be left with its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp., with a combined market value of about $40 billion.
Yahoo was started by two Stanford graduate students Jerry Yang and David Filo in 1994, Yahoo was one’s the destination of many on the internet. But matters started getting worse from 2008, when Yahoo had to fend off the contentious takeover bid from Microsoft Corp (MSFT.O) and to maintain its position.