Yahoo Stockholders Approve Sale Of Core Business To Verizon Communications

(RTTNews) - Yahoo! Inc. (YHOO) announced preliminary results of its special meeting of stockholders held today, noting that its stockholders approved the previously announced proposed sale of the company's operating business to Verizon Communications Inc. (VZ) for $4.48 billion. The company anticipates that the sale transaction will close on June 13, 2017.

In addition, Yahoo stockholders voted to approve the advisory vote on the compensation payable to the company's named executive officers in connection with the completion of the sale transaction.

Yahoo will report the final voting results for each of the proposals voted on at the Special Meeting on a Current Report on Form 8-K.

In July last year, Verizon agreed to acquire Yahoo's core internet business.