Yahoo pushes back timing of Verizon deal after breaches

Verizon’s planned acquisition of Yahoo will take longer than expected and won’t close until this year’s second quarter, the internet company said on Monday.

The $4.8 billion deal was originally slated to close in the first quarter, but that was before Yahoo reported two massive data breaches that analysts say may scrap the entire deal.

Although Yahoo continues to work to close the acquisition, there’s still work required to meet closing the deal’s closing conditions, the company said in an earnings statement, without elaborating.

Verizon has suggested that the data breaches, and the resulting blow to Yahoo’s reputation, might cause it to halt or renegotiate the deal.

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