True or False: Yahoo is a publicly-held corporation and Its name was changed as of June 2017, to Altaba, Inc.?
- DCM5150Lv 71 year agoFavorite Answer
Altaba Inc. is an independent, publicly traded, non-diversified, closed-end management investment company registered under the 1940 Act. The Fund’s common stock is listed on NASDAQ Global Select Market (“Nasdaq”) under the ticker symbol “AABA.”
On June 13, 2017, Yahoo Inc. completed the sale of its operating business to Verizon Communications Inc. Subsequently, the Company was renamed “Altaba Inc.” and began trading under the ticker symbol “AABA.” Because Altaba Inc.’s assets consist primarily of equity investments, short-term debt investments, and cash, the Company was required to register as an investment company under the Investment Company Act of 1940. The completion of the sale of the operating business to Verizon did not otherwise affect shares of Yahoo common stock, which now represent shares of common stock of the Company after it registered as an investment company and changed its name to “Altaba Inc.”
On April 2, 2019, the Fund’s Board of Directors approved the liquidation and dissolution of the Fund pursuant to a Plan of Complete Liquidation and Dissolution (the “Plan”), subject to stockholder approval. A special meeting of stockholders has been called for Thursday, June 27, 2019 at 11:30 a.m. (Eastern time), at 50 Vanderbilt Avenue, New York, New York 10017, for stockholders to consider and vote upon the Plan. A copy of the proxy statement mailed to stockholders in connection with the special meeting is available here.
- SumDudeLv 71 year ago
Ask Google, lol.
- dtstellwagenLv 71 year ago
Everything you see that is branded Yahoo is owned by Verizon. The name Yahoo and all of its internet communications and operations and related services were bought by Verizon.
Altaba is the remnants of the company formerly called Yahoo, that now operates as an asset management company.