Verizon to acquire Yahoo in $4.8 billion deal

(CNBC) Verizon Communications on Monday announced plans to acquire Yahoo for $4.8 billion in cash, ending months of uncertainty after Marissa Mayer’s battered internet giant company said it would review strategic alternatives.

Share prices of both companies initially moved slightly higher in premarket trading after the announcement, but Yahoo’s stock turned lower to trade down more than 1 percent.

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