Yahoo Delays AGM

6:40 AM -- Yahoo Inc. (Nasdaq: YHOO), which is under pressure to initiate new talks with Microsoft Corp. (Nasdaq: MSFT), has postponed its annual general meeting (AGM) of shareholders until late July, the company announced in a document filed with the Securities and Exchange Commission (SEC) . (See Microsoft Drops Yahoo Offer.)

The delay, from July 3 to some time later that month, is a direct result of shareholder Carl Icahn's plans to nominate and install a new board and strike a merger deal with Microsoft. (See The Icahn 10, Icahn Sends Letter to Yahoo, and Can Icahn Shift Yahoo? .)

Naturally, the Yahoo board isn't keen on Icahn's approach. (See Yahoo Responds to Icahn.)

The later meeting date gives Yahoo CEO Jerry Yang a few more weeks to figure out how he might survive the Icahn coup. A few weeks may not be long enough, though.

— Ray Le Maistre, International News Editor, Light Reading

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