SAMSUNG UPS STAKE IN AST
By Adnews Staff
South Korea-based Samsung Electronics Co. Ltd. has signed an agreement to buy the rest of California-based AST Research. Samsung and its affiliates already hold 46% of AST's common stock, a stake that could be increased to 49% if the companies exercise stock options. Samsung's tender offer began last week and will continue until May 19. With a total of approximately 31 million shares outstanding, the deal has an estimated value of $170 million(US). John Whitnall, AST Canada's general manager, told Adnews the merger should have no direct impact on either company's operations. He said AST will remain a separate entity under the Samsung umbrella. Group Multimedia Network of Toronto handles advertising for both Samsung and AST in Canada.