According to a filing to the SEC, should Verizon to continue with its takeover plans, the remains of Yahoo will undergo a rebrand to Altaba. Those remaining assets include its 36% stake in Yahoo Japan and a 16% stake in e-commerce giant Alibaba, plus a vast patent portfolio.
Marissa Mayer, who has been CEO at Yahoo since 2012, will step down from the company, along with five other board members.
Should the deal be completed, the remaining assets will be integrated with AOL, which was acquired by Verizon in 2015 in a $4.4 billion deal. In July, an AOL spokesperson said Yahoo brands including Yahoo Finance and Yahoo sports will continue to exist.
Doubt still lingers over the potential takeover, following disclosures last year of two separate data breaches that impacted more than one billion accounts.
The deal is subject to final approval from Verizon, and is currently undergoing scrutiny from regulators.