Verizon to Offer $3 Billion for Yahoo

The sale process continues.

Verizon—which has been the frontrunner to acquire Yahoo since day one—has submitted a $3 billion second-round bid for the Internet giant.

The Wall Street Journal reports that Verizon is only interested in Yahoo’s web brands; it wants no part of Yahoo’s real estate or patents.

Also, that $3 billion offer could rise or fall depending on some questions Verizon has for Yahoo. Specifically, would Yahoo be willing to cover severance pay to staffers who will get the axe after a deal is made?

Yahoo is expected to hold at least one more round of bidding, but as of now, Verizon’s only competition is private-equity firm TPG. The firm has also submitted a second round bid.