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BUSINESS
February 27, 1997
AST Research Inc.'s independent directors hired Morgan Stanley & Co. to help them evaluate Samsung Electronics Co.'s offer to buy the remaining 54% of AST that Samsung doesn't own. South Korea-based Samsung offered last month to buy the rest of AST Research for $469 million in cash and assumed debt. It said it would pay $5.10 for each share of the struggling computer maker and assume about $307 million of debt.
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BUSINESS
February 11, 1997
A group of AST Research Inc. investors said Monday that they have formed a committee to review the company's negotiations with would-be acquirer Samsung Electronics Co., the second such committee formed in the past week. The latest group, which also criticized Samsung's offer to acquire AST as too cheap, is headed by Saeid Hariri, a property manager who lives in Laguna Hills. Hariri said he owns about 34,000 shares of AST stock.
BUSINESS
February 7, 1997 | GREG MILLER, TIMES STAFF WRITER
A group of AST Research Inc. shareholders formed a committee Thursday to monitor the struggling computer manufacturer's negotiations with would-be acquirer Samsung Electronics Co. "People are wondering whether this is a fair offer and how the company got into this shape," said Dan Montano, who described himself as an Orange-based investment banker asked by several AST shareholders to help create a "shareholders protection committee."
BUSINESS
February 7, 1997 | Times Staff and Wire Reports
A group of AST Research Inc. shareholders formed a committee to monitor the struggling computer manufacturer's negotiations with would-be buyer Samsung Electronics Co. "People are wondering whether this is a fair offer and how the company got into this shape," said Dan Montano, who described himself as an Orange-based investment banker asked by several AST shareholders to help create a "shareholders' protection committee." AST executives declined to comment.
BUSINESS
February 3, 1997 | GREG MILLER, TIMES STAFF WRITER
For two companies so closely aligned, Samsung Electronics Co.'s proposal last week to acquire AST Research Inc. had all the romance of a shotgun wedding. Samsung started with a cordial letter stating its "wishes to commence negotiations" to buy the 51% of the Irvine computer manufacturer it does not already own. But in the ensuing pages of a release issued by the Korean company, Samsung proceeded to pound AST over the head.
BUSINESS
February 1, 1997 | GREG MILLER, TIMES STAFF WRITER
AST Research Inc. was hit with a shareholder lawsuit Friday accusing the computer manufacturer of allowing its financial condition to deteriorate so that Samsung Electronics Co. could acquire the company at a bargain price. The suit alleges that AST has pursued strategies set by Samsung that caused AST's share of the computer market to shrink and its stock price to tumble. Samsung, which already owns 49% of AST, offered to buy the remainder of the company on Thursday for $5.10 per share.
BUSINESS
January 31, 1997 | GREG MILLER and JOHN O'DELL, TIMES STAFF WRITERS
Samsung Electronics Co., the Korean giant that has come to the financial rescue of AST Research Inc. repeatedly in recent years, made a $469-million bid Thursday to acquire the computer manufacturer outright. Saying that it could not "continue to pour money, technology and management resources into Irvine-based AST without having direct control," Samsung offered to buy all of the company's outstanding shares for $5.
NEWS
January 31, 1997 | GREG MILLER and JOHN O'DELL, TIMES STAFF WRITERS
Samsung Electronics Co., the Korean giant that has come to the financial rescue of AST Research Inc. repeatedly in recent years, made a $469-million bid Thursday to acquire the computer manufacturer outright. Saying that it could not "continue to pour money, technology and management resources into Irvine-based AST without having direct control," Samsung offered to buy all of the company's outstanding shares for $5.
BUSINESS
December 17, 1996
Irvine-based AST Research Inc. signed a final agreement with Samsung Electronics Co. for a $200-million, two-year bank credit guarantee in exchange for 500,000 nonvoting preferred shares. The personal computer maker has been struggling with quarterly losses, declining market share and continuing executive turmoil as Seoul-based Samsung tries to save it. Samsung invested $378 million for a 40% stake in AST earlier this year and raised the stake to 46% in July.
BUSINESS
December 17, 1996
AST Research Inc., struggling with a string of quarterly losses, said Monday it has signed a final agreement with Samsung Electronics Co. for a $200-million, two-year bank credit guarantee in exchange for 500,000 shares of nonvoting preferred stock. AST also said a previous $200-million bank credit guarantee with Samsung was extended by a year to Dec. 31, 1998, resulting in a credit guarantee of $400 million from Samsung.
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