Yahoo postpones crucial shareholder meeting

Moves to delay proxy battle

23 May 2008 10:58 GMT / By Katie Scott

A new deal may be on the table and things may look a little friendlier between Microsoft and Yahoo, but the web company is still fighting off billionaire investor Carl Icahn.

Icahn has been mobilising shareholders against the present Yahoo board in order to force a deal with Microsoft.

This has included encouraging organisations and individuals with deep pockets who support his plans to buy up Yahoo shares to strengthen his bid to oust the Yahoo board and put his own men in instead.

But Yahoo has today fought back,

The web company has postponed the crucial shareholder meeting, which was set for 3 July, when Icahn was expected to launch its proxy battle by voting to get rid of Yahoo's board.

Yahoo has yet to set another date but it is mooted that the meeting will take place later in July.

Yahoo made the postponement in a filing with the financial regulator, the Securities and Exchange Commission.