Yahoo delays deadline for nominating board members

Yahoo delays deadline for nominating board members

Yahoo continues to struggle to avoid a takeover by Microsoft.

The company has now revealed that they are now delaying the deadline for nominating board members as they aim to buy more time.

Software giant Microsoft has been working on ways to force Yahoo to accept their acquisition bid.

Microsoft is said to be planning to attempt to oust the Yahoo’s 10 directors and replace them new members who would be more favorable to the deal.

Gartner analyst Van Baker spoke about the new development at Yahoo: “It’s pretty clear that the Yahoo management team does not want to be acquired by Microsoft, but at the same time it is clear they are having a hard time outright rejecting the bid because it is a reasonable offer.”