| By Maureen O'Gara |
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| March 6, 2008 02:30 PM EST |
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4,345 |
In its desperate backstroke away from Microsoft’s clutches - and in case Microsoft starts its threatened proxy fight for control of the company - Yahoo! has extended its deadline for board nominations to 10 days after it announces a date for its annual shareholders meeting. Whenever that might be. The original date was March 14, just around the corner.
The move buys Yahoo! a little more time to find a white knight to rescue it from Microsoft’s rejected $31-a-share offer “without the distraction of a proxy contest,” it said. According to the rules, it looks like Yahoo has to have that meeting by mid-July.
The Wall Street Journal says Yahoo is currently trying to cut a deal with Time Warner, the once burned AOL stable. Reportedly Yahoo! could acquire AOL with Time Warner holding a minority share in the combined company, a deal Google, which owns 5% of AOL, is said to favor.
The Journal said Time Warner is working on a proposal that Yahoo! can take to its board.
About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025.
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