Verizon is reportedly close to finalizing its purchase of Yahoo within few days after beating out other suitors according to multiple reports. An agreement that would end a tumultuous period for the beleaguered internet company.
Verizon is discussing a price close to $5 billion for Yahoo’s core internet business, one of the people told Bloomberg and the deal doesn’t include the company’s patents at this stage. While other assets including Yahoo’s real estate were also on the block, it could not immediately be learned if they are part of the deal.
Shares of Verizon (VZ) were up 1.2% to $56.04 in early trading Friday. Yahoo (YHOO) shares were up 0.6% to $39.08.
The ownership of both Yahoo and AOL would give Verizon control of the third and sixth most-popular web properties in the U.S.
The deal would end a months-long bidding process for Yahoo, which began earlier this year when Chief Executive Officer Marissa Mayer — after keeping investors at bay for years — said the company would explore strategic alternatives, including selling its main internet operations.