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Verizon to bid $3 billion for Yahoo's core business, report says

Verizon to bid $3 billion for Yahoo's core business, report says

Yahoo Inc. shares are down slightly after a report that Verizon Communications Inc. is expected to bid $3 billion for the embattled tech company’s core Internet business.

Yahoo’s stock was down 19 cents, or 0.5%, to $36.88 around 11:30 a.m. Eastern time. 

According to the Wall Street Journal, Verizon had planned to submit the second-round bid Monday. The Journal also reported that Yahoo is expected to hold at least one more round of bidding and that offers could change in the final round.

Verizon has been seen as the front-runner to...

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