October 26, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
Share:
Asahi Kasei to Acquire ZOLL Medical
 

Tokyo, Mar 14, 2012 (JCN) - Asahi Kasei Corp. has entered into a definitive merger agreement with ZOLL Medical Corp., a manufacturer of resuscitation and critical care devices and related software solutions, pursuant to which Asahi Kasei will acquire ZOLL for about $2.21 billion.

Asahi Kasei, through a U.S. subsidiary, will make a cash tender offer to purchase all of the outstanding shares of ZOLL common stock for $93 per share, representing a premium of 29.6% over ZOLL's volume weighted average closing stock price over the 30 trading day period ended March 9, 2012, and a 23.8% premium over the closing price on March 9, 2012. The transaction is expected to close in the second calendar quarter of 2012.

Following the completion of the tender offer, Asahi Kasei intends to implement a second-step merger, pursuant to which all remaining shares of ZOLL common stock not tendered in the offer will be converted into the right to receive the same cash price per share as in the offer. Upon completion of the merger, ZOLL will become a wholly owned subsidiary within the Asahi Kasei Group, managed by the current ZOLL management team and with all current business units and operations remaining intact. ZOLL will also be delisted from the NASDAQ stock exchange at that time.

The acquisition extends the development of Asahi Kasei's "Health Care for Tomorrow" project, under which the company seeks to advance the development of new businesses through organic growth, targeted acquisitions and strategic alliances. A key focus area of this effort is the resuscitation sector, an area where ZOLL is already a market leader in the U.S. and has a strong international market presence. This transaction builds on the alliance between the two companies that was announced in July 2011, under which Asahi Kasei has exclusive rights to market and distribute ZOLL's AED PLUS automated external defibrillator (AED) in Japan - the first AED in Japan with a function supporting cardiopulmonary resuscitation (CPR) that incorporates voice guidance and message displays.

Moving forward, Asahi Kasei plans strategic investments to accelerate the realization of ZOLL's mission of leading the world in resuscitation technologies, and to build on the ZOLL platform to achieve Asahi Kasei's long term strategic objective of creating a globally competitive health care business with a clear and unique focus on the field of critical care.

By Saroj Shrestha Staff Writer

Copyright © 2014 JCN. All rights reserved. A division of Japan Corporate News Network KK.


 Company Profile |   Print  |   Alerts
ACN Newswire

 Recent  Asahi Kasei Group News  
  Asahi Kasei Develops New Transparent Polymer for Optical Applications  (July 2, 2014)
  Asahi Kasei Chemicals to Manufacture Polyamide 66 Compounds in Indonesia  (Aug 8, 2013)
  Asahi Kasei Establishes Base in India  (Feb 25, 2013)
  Asahi Kasei Chemicals Opens AN and MMA Plants in Thailand  (Feb 14, 2013)
  Asahi Kasei Completes Construction of Kawasaki Innovation Center  (Dec 3, 2012)
  ZOLL Medical Sets Up Japan Subsidiary  (Oct 26, 2012)
  Asahi Kasei Microdevices Launches New 3-axis Electronic Compass for Mobile Devices  (July 23, 2012)
  Asahi Kasei Medical Takes Equity Stake in NxStage Medical  (May 10, 2012)
  Asahi Kasei Commences Tender Offer for ZOLL  (Mar 29, 2012)
  Asahi Kasei to Acquire ZOLL Medical  (Mar 14, 2012)



 Recent  Medical News   
Otsuka's 'QuickNavi-Flu' Diagnostic Kit to Provide Additional Diagnosis-Related Information (Oct 14, 2014)
Nitto Denko Anti-fibrosis Drug Starts Phase-1b Dosing for Cirrhosis Patients in the US (Oct 10, 2014)
Mitsui to Participate in KIFMEC Specific Purpose Company (Aug 18, 2014)
Yokogawa Technology Selected for JSTA's Next-generation Technology Transfer Program (Aug 8, 2014)
Sysmex, Toppan Printing to Collaborate in Genetic Analysis Testing (June 9, 2014)
Takara Bio Submits IND Application to FDA for HF10 Anti-cancer Therapy (May 12, 2014)
Nitto Denko Anti-fibrosis Drug with Molecular Targeting DDS Completes Phase-1a Dose Escalation (Apr 24, 2014)
Kaneka, RIKEN Synthesize Bioplastic from Non-food Plant Resources
 (Apr 14, 2014)
Takara Bio Completes Enrollment for Phase I Clinical Trial in the US for HF10 Anti-Cancer Therapy (Apr 10, 2014)
Dainippon Sumitomo Pharma Establishes Anti-Cancer Drugs Sales Company in the U.S. (Oct 10, 2013)

More Medical news...
 
CSR Report Download
Annual Reports

  More >>    
Most Popular


About JCN | Privacy Policy | Terms of Use | JCN Network (日本語)