SAN FRANCISCO (AFP) - Yahoo on Wednesday extended its deadline for nominating board members as the Internet giant maneuvers to thwart a hostile takeover by US software titan Microsoft.
Yahoos move comes as Microsoft is believed to be planning to oust the California firms current slate of directors and replace it with a panel favorable to its February 1 cash-and-stock offer valued at 44.6 billion dollars.
Yahoo has been "pursuing strategic alternatives" that reportedly include courting a "white knight" to help it rebuff the unwanted suitor.
Among those Yahoo is said to be courting is faded Internet star AOL, owned by media colossus Time Warner.
Yahoo has also reportedly been in talks with News Corp., which owns social networking website MySpace, and Internet search king Google.
In a statement, Yahoo said it amended its bylaws to change the deadline for nominating directors from March 14 to 10 days after it announces the date of its annual stockholders meeting.
Yahoo said extending the deadline will allow its board to focus on alternatives to a Microsoft takeover without "the distraction of a proxy contest."
"The amendment does not preclude any party from nominating one or more directors at any time prior to the new deadline," Yahoo said in a written release.
"As the company has not yet announced the date of this years annual meeting, the amendment will give stockholders who want to nominate one or more directors, including Microsoft Corporation, more time to do so."
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