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Verizon Buys Yahoo For $4.8 Billion

Globe and Mail, Alex Sherman and Matt Townsend

Verizon Communications Inc. will announce plans to buy Yahoo Inc.’s core assets for about $4.8-billion (U.S.) on Monday, a move that would finally seal the fate of the iconic Web pioneer after months of speculation and pressure from investors.

News of the takeover is expected to come before the market opens, said a person with direct knowledge of the situation who asked not to be identified because the information isn’t public.

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