Yahoo! won time to protect against absorption

Yahoo! search engine postponed the nomination of candidates to the board of directors for an indefinite period. Thus, the company has gained time to negotiate, which will allow it to protect itself from a takeover by Microsoft.

According to media reports, Microsoft intended to shift the top management of Yahoo! with the help of other shareholders. The deadline for the proposal of their candidates was March 14. Now Yahoo! reported that this period is 10 days from the day when the date of the annual meeting of shareholders will be announced.

The last annual meeting of shareholders was held at Yahoo! June 12, 2007. According to the laws of the state of Delaware, annual meetings should be held at least once every 13 months. That means Yahoo! may schedule another meeting for July.
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Currently, according to The New York Times and The Wall Street Journal, the world's second largest search engine is negotiating a merger with AOL, Time Warner's daughter company.

Microsoft February 1 offered for Yahoo! over 40 billion dollars. Top management rejected the proposal on February 11, stating that the company significantly underestimates the assets, brand, audience and search engine prospects.

Source: http://lenta.ru/news/2008/03/05/postpone1/