Samsung Extends Offer
John O'Dell
IRVINE — Samsung Electronics Co. Ltd. said Monday it has extended its cash tender offer for AST Research Inc. shares until June 17 as it awaits approval of the deal from the government of the Republic of Korea.
The is offering to acquire all of the AST shares it does not already own for $5.40 a share. The offer was to have expired Monday.
Samsung, which already owns 49% of the Irvine personal computer maker, said that 26.7 million AST shares, or 85% of the remaining stock, had been tendered as of Monday. AST shares closed Monday at $5.31 a share, down 3 cents, in light Nasdaq trading.
