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Amid Talks With Time Warner, Yahoo! Extends Board Nomination Deadline

Strategic alternatives being explored and stuff

By Vlad Constandes, SEO News Editor

5th of March 2008, 15:46 GMT

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Yahoo! is waiting for an offer from Time Warner

Yahoo!'s problems have grown to be a lot bigger than simply fending off the lawsuits from shareholders that want to see the money in their bank accounts.

Not being to find an alternative to Microsoft's bid however hard they try is very worrying for the Sunnyvale based company's board. Several talks have already been had with, in chronological order, Time Warner, News Corp, and, again, Time Warner, without any solution this far.

The hostile takeover that Microsoft suggested it would ply itself to using adds some extra cannonballs shackled to the Internet company's dreams, and the time of the bid makes this even more difficult to fight. The upcoming changes to happen to the composition of the board, to which the Redmond giant said it would nominate people and have them backed up, are weighing down a ton.

As a result, Yahoo! announced today that the deadline for nominations will be extended from March the 14th to 10 days following the announcement of the date for the company's annual shareholders' meeting, according to Reuters. A specific date for the latter was, however, not announced, leaving room for different interpretations. Amid talks with Time Warner, reported by the Wall Street Journal: "Yahoo and Time Warner had an earlier round of discussions, but talks intensified recently after Yahoo went back to Time Warner to ask for a proposal that it could take to Yahoo directors. Time Warner is putting the finishing touches on that proposal now. The people familiar with the matter say that the companies estimate about $1 billion in cost savings annually."

The Microsoft offer will clearly remain the best, even after Time Warner will make its own. After News Corp put a variety of offers on the table on Friday, Yahoo! is still waiting to see all the alternatives that TW might come up with and choose afterwards.

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yahoo news | yahoo | time warner | microsoft | deadline

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