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FILE - In this Dec. 15, 2016, file photo, the Yahoo logo appears on a smartphone in Frankfurt, Germany. In a regulatory filing on Monday, March 13, 2017, Yahoo named the top executives who will lead what’s left of the company after its business is sold to Verizon. Current CEO Marissa Mayer will stay at Yahoo until the $4.48 billion Verizon deal closes, expected by the end of June 2017. The filing did not say what will happen to her position after this. (AP Photo/Michael Probst, File)

Yahoo's shareholders just approved its sale to Verizon for a whopping $4.48 billion


Shareholders at Yahoo have officially approved its sale to Verizon for approximately $4.5 billion in a deal that is expected to close on Tuesday, reports Business Insider.

The deal sees Yahoo and AOL merge to form a new entity called Oath. AOL has announced that more than 2,000 employees will be laid off once the deal finishes. 

Yahoo's sale price was actually lowered by about $350 million after revelations that personal information had been stolen in a massive hack. 

Yahoo CEO Marissa Mayer will leave Yahoo, but will still own $186 million worth of stock.

Some online are concerned about the potential loss of some Yahoo services. 

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