Yahoo Postpones AGM….. The Heat Is Truly On

It’s interesting what you can find when you troll a companies SEC filings. The latest installment in the Yahoo/Microsoft (Microhoo?) saga comes with the news that Yahoo has postponed their Annual General Meeting that was scheduled for July 3rd. This means two things for them:

  1. Carl Icahn is really twisting the screws and Jerry Yang needs time to come up with a defense against it.
  2. They need the time to negotiate a partial or total buyout by Microsoft.

This is the second time Yahoo has postponed its annual meeting, usually held in May or June. The previous delay, announced in March, gave Yahoo more time to explore alternatives to Microsoft’s unsolicited takeover bid, which was withdrawn when Microsoft wouldn’t be suckered into paying Yahoo’s asking price and Yahoo couldn’t agree on a price.

There’s also news that one of their directors has resigned from their board. Yahoo doesn’t plan to replace that person, leaving its board with nine members.

It’s clear that the heat is really being turned up on Yahoo. One would think that they’re really trying to make something happen quickly so that this doesn’t turn into an all out war.

Update: It seems that Ballmer has commented on Microhoo. He claims that Yahoo was never the strategy he was pursuing. Talk about revisionist history. More on this here.

Update #2: Microsoft sock puppets PR people are trying to spin Ballmer’s remarks. Apparently Yahoo was part of “a strategy” as opposed to being “the strategy.” WTF is that supposed to mean? Read about it here.

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