Ja­pan’s Asahi Ka­sei to buy Zoll Med­i­cal

The Washington Times Daily - - Business -

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.

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