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BUSINESS
March 27, 1995 | Times Staff and Wire Reports
AT&T Signs Five-Year Deal: Under the contract, the company could sell up to $1 billion worth of computers to the South Korean government and two of that country's largest electronics companies, it said. It's the largest contract AT&T's Global Information Solutions computer unit has signed in Asia. The renewable contract is worth $50 million in 1995, and can be expanded to $1 billion over five years, AT&T said. It plans to sell 500 systems to the Korean government and to Samsung Electronics Co.
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BUSINESS
July 11, 1999 | Dow Jones
The automation unit of Costa Mesa-based Rockwell International Corp. and Samsung Electronics Co. Ltd. agreed to collaborate on marketing and developing automation products for manufacturers in Asia. Rockwell Automation, based in Milwaukee, said it plans to license products to improve factory productivity and to enhance open technology, for resale under the Samsung brand name.
BUSINESS
May 20, 1997 | John O'Dell
Samsung Electronics Co. Ltd. said Monday it has extended its cash tender offer for AST Research Inc. shares until June 17 as it awaits approval of the deal from the government of the Republic of Korea. The is offering to acquire all of the AST shares it does not already own for $5.40 a share. The offer was to have expired Monday. Samsung, which already owns 49% of the Irvine personal computer maker, said that 26.7 million AST shares, or 85% of the remaining stock, had been tendered as of Monday.
BUSINESS
March 17, 1993 | From Times Staff and Wire Reports
U.S. Sets Duties on S. Korean Computer Chips: The Commerce Department set duties of up to 7% on computer chips imported from South Korea after finding that the products were being "dumped" on the U.S. market at less than fair value. The duties, effective immediately, apply to dynamic random access memory chips, or DRAMs, made by Goldstar Electron Co. Ltd., Hyundai Electronics Co. Ltd., Samsung Electronics Co. Ltd. and other manufacturers.
BUSINESS
June 9, 1995
Samsung Electronics Co. Ltd. said Thursday that it is again extending its cash tender offer for up to 5.82 million shares of Irvine computer company AST Research Inc., this time until July 10, to accommodate a special AST stockholders meeting June 30. The tender offer, which has been extended several times since Samsung initiated it in March, is for $22 a share. At the completion of the deal, the South Korean electronics firm would own 40.25% of the outstanding common shares of AST.
BUSINESS
November 23, 2005
* The New York Stock Exchange approved a revised plan by Sovereign Bancorp Inc. to sell a major stake to Spanish banking conglomerate Banco Santander Central Hispano , handing a victory to the company in a dispute with shareholders. Major Sovereign investors had decried the deal and had appealed to the NYSE to block the transaction or force a shareholder vote. * Federal prosecutors began proceedings to dismiss an indictment against Enron Corp.'
BUSINESS
August 11, 1995
AST Research Inc., which posted heavy losses last year, will hire a consulting firm to review its operations and management. The Irvine computer manufacturer agreed to the independent evaluation to help seal its deal with Samsung Electronics Co. Ltd., which acquired a 40% stake in AST with a $377.5-million investment in the company. AST disclosed the consultant agreement in documents filed this week with the Securities and Exchange Commission.
BUSINESS
May 11, 1995 | Ross Kerber, Times staff writer. He can be reached via the Internet at "kerberr@news.latimes.com"
Despite a rivalry over notebook computers that is likely to develop between Toshiba Corp.'s Irvine unit and Samsung Electronics, the two companies are teaming up to develop computer memory chips. Under the terms of a recent agreement, Toshiba America Electronic Components Inc. in Irvine and Samsung Electronics Co. Ltd. in Seoul, South Korea, will begin developing the memory storage products, known as flash cards.
BUSINESS
August 4, 1995 | GREG JOHNSON
As anticipated, AST Research Inc. reported a $31.6-million net loss, or 98 cents per share, during the fourth quarter ended July 1. The loss boosted the Irvine-based computer manufacturer's yearly loss to $99.3 million, or $3.07 per share. AST signaled in late July that it would report a quarterly loss of at least $30 million and an annual loss of about $100 million. A year ago, AST reported an $8.1-million quarterly net loss, or 25 cents per share, and $31.
BUSINESS
July 23, 1997 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
For the third time, Samsung Electronics Co. Ltd. extended its cash tender offer for all shares of computer maker AST Research Inc. that the South Korean company doesn't already own. The offer for the nearly 27.8 million shares--or 88% of the remaining stock Samsung doesn't yet own--will now expire Aug. 8. During the 1980s, AST was one of the fastest-growing high-tech companies in the world. But by the early '90s, AST began to stumble badly.
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