Japan’s Asahi Kasei to buy Zoll Medical
CHELMSFORD | Japanese chemical manufacturer Asahi Kasei Corp. has agreed to buy Zoll Medical Corp, a Massachusetts-based maker of defibrillators and other critical care medical devices, for about $2.2 billion.
Under the deal announced Monday, Asahi is offering $93 per share for each Zoll share, a 23.8 percent premium over Zoll’s closing price of $75.10 on Friday.
Zoll shares jumped $17.66, or 23.5 percent, to $92.75 in morning trading.
Asahi Kasei is a major Japanese chemical manufacturer with a variety of businesses including health care, construction materials and electronics.
The company said Zoll will help it expand its health care business, an area that Asahi has identified as a key sector of growth. Zoll’s leading position in resuscitation technologies was particularly attractive, Asahi said.
Taketsugu Fujiwara, Asahi Kasei president and representative director, said Zoll will form the cornerstone of Asahi’s critical care business.