Yahoo may postpone its annual meeting to delay a proxy battle with Microsoft, reports the New York Times. The move would temporarily fend off a hostile takeover bid by the computer giant, and buy Yahoo some time to weigh its options, including a negotiated deal with Microsoft and a merger or joint venture with Time Warner’s AOL. Microsoft’s bid currently is worth $41.2 billion.
Yahoo must hold a meeting by July 12, enough time for the companies to work a new deal. Yahoo believes Microsoft’s original $44.6 billion bid was low; it’s eroded since as Microsoft’s share price has declined. Yahoo has talked with Google and News Corp, but now appears interested in AOL, a move that Google, which owns 5% of AOL, supports.