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Yahoo! Inc (YHOO.OQ)

YHOO.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Yahoo says Marissa Mayer will continue to be CEO prior closing of transaction with Verizon
Monday, 13 Mar 2017 06:07am EDT 

Yahoo! Inc : Upon closing of sale transaction with Verizon, Alexi Wellman will serve as chief financial and accounting officer for Altaba Inc . Yahoo says on march 10, 2017, appointed Arthur Chong to serve as general counsel and secretary of Yahoo . Marissa Mayer and Kenneth Goldman will continue to be ceo and cfo, respectively, of company prior to closing of transaction with Verizon .Board determined that, upon closing of sale transaction with verizon, Thomas J. Mcinerney will serve as ceo for Altaba Inc.  Full Article

Yahoo CFO Ken Goldman joins Zerto board of directors
Thursday, 9 Mar 2017 09:00am EST 

Zerto Inc: Yahoo! CFO Ken Goldman joins Zerto board of directors .Zerto - Appointment of Ken Goldman , chief financial officer at Yahoo, to its board of directors.  Full Article

Yahoo CEO to forgo annual equity award in 2017
Wednesday, 1 Mar 2017 05:41pm EST 

Yahoo Inc : Outside forensic experts have identified about 32 million user accounts for which they believe forged cookies were used or taken in 2015 and 2016 . Says it believes that some of this activity is connected to the same state-sponsored actor believed to be responsible for 2014 security incident . Forged cookies have been invalidated by the company so they cannot be used to access user accounts . In response to independent committee’s findings related to 2014 security incident, board determined not to award to the CEO a cash bonus for 2016 . CEO offered to forgo any 2017 annual equity award given that 2014 security incident occurred during her tenure and board accepted her offer . Recorded expenses of $16 million related to the security incidents in the year ended Dec 31, 2016 . On March 1, 2017, Ronald S. Bell resigned as the company’s General Counsel and Secretary and from all other positions with the company . Board directed company to implement or enhance number of corrective actions, including revision of technical and legal information security incident response protocols . Expect capital expenditures in 2017 to be slightly higher than the amount reported in 2016 excluding land sale proceeds . Expect capital expenditures in 2017 will be funded by cash flows from operating activities.  Full Article

Yahoo says Trump administration action related to LGBTQ community is "troubling"
Thursday, 23 Feb 2017 01:36pm EST 

Yahoo Inc :Says action related to LGBTQ community taken by Trump administration is "troubling and goes against all that we believe in".  Full Article

Yahoo under terms of SPA amendment, termination fee to be paid by Yahoo to Verizon in certain circumstances is reduced to $134.3 mln
Tuesday, 21 Feb 2017 09:39am EST 

Yahoo Inc :Yahoo - under terms of spa amendment termination fee to be paid by yahoo to verizon in certain circumstances is reduced to $134.3 million - sec filing.  Full Article

Verizon says to cut price to acquire Yahoo's operating business by $350 mln
Tuesday, 21 Feb 2017 08:00am EST 

Verizon : Verizon and Yahoo amend terms of definitive agreement . Says under amended terms, Verizon and Yahoo have agreed to reduce price Verizon will pay to acquire Yahoo's operating business by $350 million . Says Verizon and Yahoo will share certain legal and regulatory liabilities arising from certain data breaches incurred by Yahoo . Says Verizon's acquisition of Yahoo - now valued at approximately $4.48 billion in cash . Says liabilities arising from shareholder lawsuits and SEC investigations will continue to be responsibility of Yahoo . Says Yahoo to be responsible for 50 percent of any cash liabilities incurred following closing related to non-sec government investigations . Says Verizon's acquisition of Yahoo is expected to close in second-quarter 2017 . Says data breaches or losses arising from them will not be taken into account in determining whether a "business material adverse effect" has occured .Says Yahoo to be responsible for 50 percent of any cash liabilities incurred following deal closing related to third-party litigation related to breaches.  Full Article

Verizon, Yahoo agree to cut merger price by as much as $350 mln - CNBC, citing DJ
Tuesday, 21 Feb 2017 07:00am EST 

: Verizon, Yahoo agree to cut merger price by as much as $350 million - CNBC, citing DJ . Verizon, Yahoo agree to split future costs of data breaches- CNBC, citing DJ ((Bangalore.newsroom@thomsonreuters.com ;)).  Full Article

Verizon CFO says co has not reached any final conclusions on Yahoo deal
Tuesday, 24 Jan 2017 10:04am EST 

Verizon Communications Inc : Verizon CFO on yahoo deal- "we have not yet reached any final conclusions yet"- conf call . Verizon CFO says unlimited product is "not something we feel the need to do" at this point in time - conf call . Verizon CFO says co will "continue to look for opportunities to expand and grow the business"- conf call Further company coverage: [VZ.N] ((Bangalore.newsroom@thomsonreuters.com;)).  Full Article

Yahoo Inc board names Eric Brandt as chairman of boards
Monday, 9 Jan 2017 05:55pm EST 

Yahoo! Inc - : Board determined, effective January 9, Eric Brandt will become chairman of board and Maynard Webb will become chairman emeritus of board . Board made certain determinations with respect to size, composition following closing of sale of co's operating business to verizon . Board determined that, following deal closing, it intends to cause company's name to be changed to Altaba Inc . David Filo, Eddy Hartenstein, Richard Hill, Marissa Mayer, Jane Shaw, Maynard Webb has said that he or she intends to resign from board upon closing of deal .Board has determined that, immediately following closing of deal, size of board will be reduced to five directors.  Full Article

Yahoo updates on data breach incident
Wednesday, 9 Nov 2016 04:56pm EST 

Yahoo! Inc : Yahoo! Inc - On Nov 7, law enforcement authorities began sharing certain data that they indicated was provided by a hacker who claimed information was Yahoo user account data .Yahoo! Inc says co will, with assistance of its forensic experts, analyze and investigate the hacker’s claim that the data is Yahoo user account data.  Full Article

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