June 8 Yahoo Inc shareholders on
Thursday approved the company's pending sale of its core
internet business to Verizon Communications Inc for $4.48
billion, according to preliminary results from a shareholder
Yahoo expects that the deal will close on June 13, 2017.
The company also said it extended a tender offer to buy back
up to $3 billion shares to June 16 from June 13.
The closing of the deal, announced in July, had been delayed
as the companies assessed the fallout from two data breaches
that Yahoo disclosed last year.
After the Verizon deal, Yahoo will be renamed Altaba, a
holding company whose primary assets will be its stake in
Alibaba Group Holding Ltd and a 35.5 percent stake in
Yahoo Japan Corp.
(Reporting by Anya George Tharakan in Bengaluru; Editing by