Yahoo Delays Board Meeting: prelude to friendly MSN negotiation?

5 Mar

“Yahoo! extended a deadline to nominate board directors, buying the company time to pursue alternatives to Microsoft Corp’s $41.7 billion offer, while also giving Yahoo room to negotiate a friendly deal with Microsoft.

The original March 14 deadline could have catapulted Microsoft and Yahoo into a formal proxy contest next week. Instead, Yahoo said on Wednesday the deadline would fall 10 days after it announces the date for its annual shareholder meeting, which has yet to be scheduled.

Yahoo has explored tie-ups with several other Internet and media companies that would allow it to retain more independence. Delaying board nominations reduces the pressure on Microsoft to turn hostile in its takeover strategy in which it could nominate an alternative slate of Yahoo directors.

Talks about a deal with Time Warner Inc’s (TWX.N) AOL unit have accelerated, a person briefed on the discussions said on Wednesday. News Corp (NWSa.N) and Yahoo are still discussing possible options, a source familiar with the talks said.”


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