Yahoo Extends Deadline To Nominate Board Members

March 6th, 2008

Yahoo has amended its bylaws to extend the deadline for nominating directors to its board from March 14 to 10 days after the public announcement of the date for its annual meeting of stockholders.The amendment gives stockholders who want to nominate one or more directors, including Microsoft , more time. The extension also lets Yahoo pursue alternatives to a Microsoft takeover.

“Yahoo’s board of directors remains committed to pursuing initiatives that maximize value for Yahoo’s stockholders,” the company said. “To the extent that the extension of the nomination deadline has the effect of postponing the nomination of one or more directors by any party, it will allow Yahoo’s board to continue to explore all of its strategic alternatives for maximizing value for stockholders without the distraction of a proxy contest.”

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