Samsung Extends Offer for AST Stock

IRVINE — Samsung Electronics Co. extended to July 1 its cash tender offer for all shares of computer maker AST Research Inc. that Samsung doesn’t already own.

Samsung Electronics said Wednesday that it is extending the offer to allow additional time to receive approvals for the deal from the government of South Korea.

Samsung said nearly 27.4 million AST shares, or 87% of the shares not owned by Samsung, had been tendered by the Tuesday deadline.

Samsung, the world’s largest producer of memory chips, in April announced plans to offer about $474.4 million to acquire the 54% of AST Research that it did not own. On May 19, Samsung extended the tender offer of $5.40 a share to midnight Tuesday.

The Federal Trade Commission and European Commission have already given their approval.