Verizon Believes Yahoo Email Hacking 'Material,' Could Affect Deal (cnbc.com)

In the aftermath of disclosure of a mega-breach at Yahoo which affects over 500 million users, Verizon may be looking at a way out of Yahoo's $4.83 billion acquisition deal. From a Reuters report: The company has a "reasonable basis" to believe that Yahoo's massive data breach of at least 500 million email accounts represents a material impact that could allow Verizon to withdraw from its $4.83 billion deal to buy Yahoo. Silliman told reporters that the data breach could trigger a clause that could allow Verizon to withdraw from the deal. "I think we have a reasonable basis to believe right now that the impact is material and we're looking to Yahoo to demonstrate to us the full impact. If they believe that it's not then they'll need to show us that," he said.

Comments

Good enough for me

[Zak3056]

Yahoo knew, and didn't disclose. Presumably, they also didn't disclose the NSA stuff, either (though something tells me that, being a telecom, Verizon wouldn't actually have a problem with that one). The email platform (and associated user base) is one of the few things that Yahoo still has that is worth anything, and its value has likely been irreparably damaged. Verizon should definitely be able to walk away clean from this.