Samsung Again Extends Deadline of Tender Offer in Its Deal With AST

For the fourth time, Samsung Electronics Co. has extended the deadline of a tender offer related to its $378-million deal that would give it control of 40% of Irvine computer maker AST Research Inc.

Samsung, the Seoul-based electronics giant, has extended its tender offer to pay $22 a share for 5.8 million shares of AST common stock until July 28. So far 26.4 million shares have been put up for sale by shareholders, according to the New York brokerage that is handling the transaction.

Upon the completion of the tender offer, Samsung will also invest $250 million to buy shares directly from AST, giving it control of 40% of the company. Samsung will also assume responsibility for some of AST’s debt.

AST needs the cash. The company recently said it expects to post a loss for the current quarter, and that it is technically in default to its creditor banks.

AST shareholders approved the agreement at a meeting June 30, while Samsung officials have also said they have obtained the necessary approvals from the Korean government.