Yahoo Buys More Time ; Microsoft-Yahoo saga

[afadmin]

The Microsoft-Yahoo saga commanded attention in the tech sector this week, with Yahoo Inc. extending a key deadline in its attempt to fend off a takeover by the world's largest software company.

On Wednesday, the search engine operator said March 14 is no longer the deadline for Microsoft Corp. to nominate a slate of candidates to replace Yahoo's board. Analysts widely expect Microsoft will launch a proxy battle that will end in a takeover.

Yahoo didn't set a new deadline for the nominations but will do so once it gives the date of its annual shareholders meeting, which could be held as late as July 12. After the meeting date is set, Microsoft will have up to 10 days to nominate directors.