Samsung Extends Its Offer for AST Stock

Samsung Electronics Co. said Friday that it has extended the deadline on its offer to buy up to 5.82 million shares of AST Research Inc. stock.

The company extended the tender offer, pending approval from the South Korean government, to 6 p.m. Eastern Standard Time on June 1. The offer originally was scheduled to close on April 20.

Under the terms of the investment agreement reached in February, the South Korean electronics company will pay $250 million in cash for new stock in AST and will spend $128 million for existing shares to gain a 40.25% stake in the Irvine computer maker.