March 6, 2008 at 07:27Yahoo! gained 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 gained time for negotiations that will allow it to protect itself from takeover by Microsoft.
According to media reports, Microsoft intended to remove 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 such a period is 10 days from the day the date of the annual meeting of shareholders is announced.
The last annual meeting of shareholders was held at Yahoo! June 12, 2007. Under the laws of the US state of Delaware, annual meetings must be held at least every 13 months. This means that Yahoo! may schedule a regular meeting for July.
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, the “daughter” of Time Warner.
Microsoft February 1 proposed for Yahoo! over 40 billion dollars. Top management rejected the offer on February 11, saying the company significantly underestimates the assets, brand, audience and search engine prospects.
Source: http://lenta.ru/news/2008/03/05/postpone1/
According to media reports, Microsoft intended to remove 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 such a period is 10 days from the day the date of the annual meeting of shareholders is announced.
The last annual meeting of shareholders was held at Yahoo! June 12, 2007. Under the laws of the US state of Delaware, annual meetings must be held at least every 13 months. This means that Yahoo! may schedule a regular meeting for July.
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, the “daughter” of Time Warner.
Microsoft February 1 proposed for Yahoo! over 40 billion dollars. Top management rejected the offer on February 11, saying the company significantly underestimates the assets, brand, audience and search engine prospects.
Source: http://lenta.ru/news/2008/03/05/postpone1/