Yahoo to delay meeting over Icahn move

Yahoo said Friday it is delaying a July 3 shareholders meeting in a move aimed at staving off a showdown with corporate raider Carl Icahn, who is out to overthrow the struggling Internet search pioneer's board of directors. Icahn has reportedly bought a stake of more than four percent in the California firm and says he plans to oust board members he accuses of botching recent takeover talks with Microsoft. Microsoft walked away from the bargaining table after Yahoo's board spurned its offer of nearly 50 billion dollars (32 billion euros) on the grounds they feel it undervalues Yahoo. Icahn has nominated a Microsoft-friendly slate, which includes him, to replace all ten Yahoo board members at elections to be held at an annual meeting originally scheduled for July 3.