Yahoo Shareholders Approve Sale to Verizon

Yahoo’s shareholders have approved the sale of Yahoo’s operating business to Verizon in a vote held today and confirmed in a press release sent out following the meeting.

The company’s stockholders also voted to approve the advisory vote on the compensation payable to Yahoo’s named executive officers in connection with the completion of the transaction.

The final voting results for each of the proposals will be reported on a Current Report on Form 8-K, in accordance with the rules of the Securities and Exchange Commission, Yahoo said.

It added that it anticipates the transaction will close on June 13, 2017.

In February, $350 million was knocked off the agreed sale price, bringing it down to $4.48 billion, after Yahoo disclosed two massive data breaches (affecting some 500 million accounts and 1 billion accounts, respectively).

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