San Francisco: Yahoo Japan Corp. proposed a “merger of equals” with Yahoo! Inc—but was rebuffed—during a months-long process that eventually led to Verizon Communications Inc. acquiring the US internet company’s core assets for more than $4.8 billion, according to a regulatory filing detailing the sales effort. It also contemplated a commitment from Alibaba Group Holding Ltd. to purchase about half of Yahoo’s stake in the company. Verizon announced on 25 July that it would acquire Yahoo’s internet assets for more than $4.8 billion, bringing the web portal together with long-time rival AOL. Filo, however, expressed interest in possibly joining the bid, and was restricted in the decision-making process, according to the filing.

Source: Mint September 11, 2016 09:33 UTC