Verizon Communications Inc will
reveal a contract on Monday to buy Yahoo Inc for
about $5 billion, according to a person familiar with the
matter. The statement will come before the start of New york city
trading hours, the source included. The offer will end months of uncertainty about Yahoo’s future
after the company revealed plans to evaluate strategic
alternatives in February.
Yahoo was not instantly available, and Verizon declined to
comment. Bloomberg initially reported that the deal will be announced
Monday for $4.8 billion.
Reuters reported on Friday that Verizon had actually emerged as the
front-runner in the Yahoo auction.
( Reporting by Liana Baker in San Francisco and Carl O’Donnell
in New york city; Modifying by Lisa Von Ahn).