Verizon has secured a reduction of USD 350 million in the price it will pay for Yahoo's web business, while agreeing to share liability of any future damages from the data breach at Yahoo. The hack at Yahoo, affecting some 500 million customers' personal data, was disclosed barely two months after Verizon announced the deal to buy the company's web assets for USD 4.8 billion.
Verizon said the takeover still makes "strategic sense" and it aims to close the acquisition in Q2. The new purchase price is USD 4.48 billion.
Under the amended terms, Yahoo will be responsible for 50 percent of any cash liabilities incurred following the closing related to non-SEC government investigations and third-party litigation over the breaches. Liabilities arising from shareholder lawsuits and SEC investigations will continue to be the responsibility of Yahoo.
