Jan 23, 2017

Yahoo-Verizon: The merger that can't be killed

Markets are shrugging off a report in The Wall Street Journal that the SEC is investigating whether Yahoo should have disclosed the news of two separate hacks, which led to the theft of information associated with one billion user accounts.

These disclosures set off speculation that Verizon could pull out of its planned $4.8 billion buyout of the search giant, but investor reaction to the news suggests otherwise.

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Data: Money.net; Chart: Andrew Witherspoon / Axios

What's next: In order for Verizon to use this news as impetus to scuttle the merger, there would have to be evidence that it has materially affected Yahoo's popularity or financials, which there isn't.

Verizon may use the scandal to knock a few hundred million from the purchase price, but look for the deal to still go through, absent further revelations.

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Photo: GDC

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The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.

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Trump again nominates Rep. John Ratcliffe for intelligence chief

Ratcliffe at CPAC on Feb. 27. Photo: Michael Brochstein/Echoes Wire/Barcroft Media via Getty Images

President Trump again nominated Rep. John Ratcliffe (R-Texas) as Director of National Intelligence (DNI), in a tweet on Friday.

Catch up quick: If confirmed, Ratcliffe would eventually replace Richard Grenell, a staunch defender of Trump and former U.S. ambassador to Germany who was installed as the acting DNI only a few weeks ago. Grenell would have had to leave the post on March 11 unless Trump formally nominated someone else to oversee the U.S. intelligence community, the New York Times reports.

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