Japanese Firm Buying ZOLL Medical Corp.
Chelmsford-based medical device maker ZOLL Medical Corp. has agreed to be acquired by Japanese chemical manufacturer Asahi Kasei Corp. for $2.21 billion.
Both companies' boards of directors have approved the deal.
Asahi Kasei will pay $93 per share in cash for all outstanding shares of the ZOLL's stock. That represents a 29.6-percent premium over the stock's weighted average closing price over the past month.
The deal is expected to close in the second quarter of 2012, after which ZOLL will become a wholly owned subsidiary of the Japanese company and be delisted from the Nasdaq stock exchange. ZOLL's current leadership team will continue to manage its operations, and existing business units will stay intact.
Asahi Kasei said the deal will help it expand its medical industry business, which it sees as a key growth area.
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