| Message Text: |
Altaba, the holding company formed from the overseas investments of the company that used to be Yahoo, will raise about $4.34 billion by selling its entire stake in Yahoo Japan Corp.
The company increased the size of the deal to include its entire 1.36 billion-share holding after initially saying it planned to sell about 750 million shares to raise about $2.5 billion, according to terms of the deal seen by Bloomberg.
Altaba is offering shares of Yahoo Japan at 354 yen each, representing a discount of 4.6 percent to the stock's last close, the company said Monday.
Altaba is Yahoo Japan's second-largest shareholder with a 23.9 percent stake, trailing only SoftBank Group. |