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Verizon Announces Deal to buy Yahoo! for $4.8 Billion

TheStreet

Verizon confirms deal today buy Yahoo! for $4.8 billion. Yahoo was once worth $125 billion. It is widely expected that Yahoo will become a holding company for Alibaba and Yahoo Japan and that CEO Marissa Mayer will not remain with the company. Her payout is expected to be worth $57 million. Tesla and SolarCity are reportedly close enough to a merger to go to a vote, according to Reuters. Elon Musk is majority shareholder of both companies. Under the original proposal, Tesla would acquire SolarCity for $2.8 billion in an all stock transaction. The merger would create a 'one stop shop' for customers to buy a solar installation integrated with a home battery pack. Nintendo warned that the financial impact from Pokemon Go is limited. Shares plummeted the most since 1990 after the company said it owns only 32% of the Pokemon company. The Democratic National Convention begins today in Philadelphia.