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Verizon to take $500M charge on integration of Yahoo

Jun. 15, 2017 10:48 AM ETVerizon Communications Inc. (VZ) StockAABA, VZBy: Jason Aycock, SA News Editor12 Comments
  • Verizon (VZ +0.1%) says in an SEC filing that it will take a pretax charge of $500M in Q2 tied to "severance, acquisition and integration-related expenses" tied to its buyout of Yahoo (YHOO -1.1%).
  • The telecom says it expects to see more than $1B in cumulative operating expense synergies through 2020 from the deal.
  • The $4.48B deal closed Tuesday, setting in motion the creation of Oath at Verizon (uniting AOL/Yahoo brands) and Yahoo's transition into investment company Altaba.
  • Previously: Yahoo sets pricing for $3B self-tender buyback (Jun. 15 2017)

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