Yahoo stockholders have approved the previously announced proposed sale to Verizon Communications of the company’s operating business, a statement from Yahoo said.

In addition, Yahoo stockholders voted to approve the advisory vote on the compensation payable to the company’s named executive officers in connection with the completion of the sale transaction.

The final voting results for each of the proposals voted on at the special meeting will be reported on a Current Report on Form 8-K, in accordance with the rules of the Securities and Exchange Commission, the statement said.

Yahoo anticipates that the sale transaction will close on June 13. As previously announced, following the closing of the sale transaction, the company will change its name to “Altaba Inc” and register as an investment company under the Investment Company Act of 1940. – TradeArabia News Service