Yahoo has extended the deadline for nominating candidates for its board of directors.

Every seat on the board is open. Microsoft, whose offer to buy Yahoo was rejected, plans to nominate a slate of directors who will revisit and accept the buyout offer.

The new deadline will be 10 days following the public announcement of the date for Yahoo’s 2008 annual meeting of stockholders.

Yahoo apparently hopes the delay will do two things: 1) give Yahoo additional time to negotiate a deal with some company other than Microsoft, and 2) should those negotiations be successful, give the other company the opportunity to nominate its own slate of directors.

Any other company with an interest in Yahoo would also be able to nominate board members.

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