American Businessphones Inc. director Jean R. Stiegemeier...

American Businessphones Inc. director Jean R. Stiegemeier has extended his buyout proposal to the Irvine-based business-telephone equipment company until July 29. Stiegemeier’s unsolicited offer to buy all of ABI’s stock for $11 per share, or about $18.4 million, was originally set to expire Monday. ABI President Frank J. Feitz said the extension will give the company’s board more time to study the proposal.