Yahoo! postpones annual meeting in light of Icahn proxy battle

By Angela McDaniels

Tacoma, Wash., May 22 - Yahoo! Inc. is postponing its annual meeting, originally scheduled for July 3, and expects the new date will fall near the end of July, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported, Carl C. Icahn announced plans on May 14 to nominate himself and nine others for election to the company's board. Icahn said he is doing so at the behest of fellow shareholders because Yahoo!'s board "botched" a merger proposed by Microsoft Corp.

Yahoo! said it is now required under SEC rules to file its preliminary proxy materials at least 10 days prior to the date that copies are sent to stockholders.

The company filed its preliminary proxy materials on Thursday, and it is postponing the annual meeting pending review and clearance of its proxy materials by the SEC.

The record date for the annual meeting is June 3, the filing stated.

In light of the postponement, Yahoo! said the deadline for the submission of stockholder proposals for inclusion in the company's proxy materials will be June 3.

Yahoo! provides internet services. The company is based in Sunnyvale, Calif.

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