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.