Yahoo again blocks Microsoft's bid
( USA TODAY )- Yahoo has thrown up another obstacle in Microsoft's (MSFT) bid to buy it.
The Internet media giant extended a deadline for nominating candidates to its board of directors, buying it more time to find a white knight to help it stave off Microsoft's takeover bid, currently valued at $41.7 billion.
The announcement Wednesday comes as Yahoo steps up discussions with Time Warner (TWX) about acquiring or forming a joint venture with its AOL division, a person briefed on the discussions said Wednesday, requesting anonymity because talks are ongoing.
A Yahoo-AOL combination would create a stronger advertising-driven business that could ultimately compete with Google. (GOOG) Yahoo also has been in discussions with media conglomerate News Corp., the person briefed on the discussions said.
The original March 14 deadline could have pitted Microsoft and Yahoo in a bloody proxy battle next week. Instead, Yahoo says, the deadline would fall 10 days after it announces the date for its annual shareholder meeting, which has yet to be scheduled.