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AST Research Inc. is expected to announce today that it has agreed to be acquired by Samsung Electronics Co., marking the final chapter for a computer manufacturer that was started by three immigrants in 1980 and went on to become an industry giant before stumbling badly in recent years.
AST's board of directors, acting on the recommendation of a special committee, voted Monday to approve the deal, three months after it was proposed by Samsung, sources close to the negotiations said.
Samsung, the Korean electronics giant, already had a 49% stake in Irvine-based AST through a series of financial bailouts beginning with a $378-million cash infusion in 1995. In January, Samsung offered to acquire the remaining shares of the company for $469 million in cash and assumption of debt.
The final price approved by AST's board was not immediately known, although it was expected to be slightly higher than Samsung's initial proposal of...