Maguire Properties Inc. said directors have decided to delay its annual shareholder meeting as it continues weighing a possible sale of the company.

The meeting will be held no earlier than Aug. 1, Maguire said Wednesday in a statement. Downtown L.A’s largest landlord had originally set the meeting for June.

Chief Executive Robert Maguire has been battling hedge funds for control of the company he started 40 years ago and is now bidding for the company with a group of investors.

Shares in Maguire were down 18 cents to $21.61 in early trading Wednesday on the New York Stock Exchange.