AST Research Inc. announces Samsung buy-out proposal.IRVINE Irvine, town, Scotland Irvine (ûr`vĭn), town (1991 pop. 32,507), North Ayrshire, SW Scotland, on the Irvine River estuary. Industries include iron and brass foundries. Other products are chemicals, electric goods, and clothing. , Calif.--(BUSINESS WIRE)--Jan. 30, 1997--AST Research Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASTA) on Thursday Thursday: see week. announced that Samsung Electronics Samsung Electronics (SEC, Hangul:삼성전자; KSE: 005930, KSE: 005935, LSE: SMSN, LSE: SMSD) is a South Korean multinational corporation and the world's largest and leading electronics and information technology company. Co. Ltd. has proposed to commence negotiations with respect to the acquisition by Samsung Electronics of all of the outstanding shares of common stock of AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. not currently owned by Samsung Electronics or its affiliates at a price of $5.10 per share. Samsung Electronics currently owns approximately 46 percent of the outstanding shares, and owns options which, if exercised, would result in ownership of approximately 49 percent of the outstanding AST shares. Pursuant to the terms of a Stockholder Agreement between AST and Samsung, Samsung's ability to purchase shares and engage in other transactions with AST is subject to certain restrictions. AST's board of directors has formed a special committee, consisting of three independent directors, to evaluate Samsung's proposal, and to consider other options that may be available to AST, after consultation with appropriate legal and financial advisors. There is no assurance that any transaction will ultimately occur. AST Research AST Research, Inc. was a personal computer manufacturer, founded in Irvine, California in 1980 by Albert Wong, Safi Qureshey and Thomas Yuen. (The name comes from the initials of their first names. develops and markets a broad spectrum of desktop, mobile and server PC products that are sold in more than 100 countries worldwide. AST systems meet a wide range of customer needs, ranging from corporate business applications to advanced home and home office use. Corporate headquarters is located at 16215 Alton Parkway, P.O. Box 57005, Irvine, Calif. 92619-7005. Telephone 714/727-4141 or 800/876-4278. Fax: 714/727-9355. Information about AST and its products can be found on the World Wide Web at http://www.ast.com . CONTACT: Emory Epperson (media) 714/727-7958 Mariann Ohanesian (analyst) 714/727-7728 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion