Closing time

5 March 2008 By Robert Cyran Follow @rob_cyran

The internet company has extended the deadline for nominating directors. It can now delay its annual meeting, giving it time to fight Microsoft s unsolicited bid. If Yahoo could win a proxy fight or had a credible alternative plan it wouldn t need to do this.

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Yahoo has extended the deadline for nominating directors to company's board from March 14th to 10 days following the public announcement of the date for Yahoo's 2008 annual meeting of stockholders.

Yahoo's last annual meeting was on June 12, 2007. It must have its next annual meeting by July 12 this year under Delaware law. It has not yet announced the date.

Yahoo is the subject of an unsolicited cash and stock offer from Microsoft. The bid is worth $28.62 per share based on closing prices on March 4.

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