April 20, 2014     Japanese 
  JCN 
	  Network - Home
JCN Newswire
  Home  |  Companies  | Annual Reports  |  CSR  | News Alerts     
 
Share:
Asahi Kasei Commences Tender Offer for ZOLL
 

Tokyo, Mar 29, 2012 (JCN) - Asahi Kasei Corp. has announced the commencement of a tender offer, through its indirect wholly owned U.S. subsidiary Asclepius Subsidiary Corp., for all outstanding shares of common stock of ZOLL Medical Corp. for $93 per share.

The tender offer is being made pursuant to an Offer to Purchase and in connection with the previously announced Agreement and Plan of Merger among Asahi Kasei, Asahi Kasei Holdings US Inc., Asclepius, and ZOLL.

The tender offer is scheduled to expire at the end of Friday, April 20, 2012, at 12:00 Midnight, New York City time, subject to one or more possible extensions. After expiration, there may be one or more subsequent offering periods.

The tender offer is conditioned on the minimum tender of at least two-thirds of the outstanding shares of ZOLL on a fully diluted basis as well as the receipt of applicable regulatory clearances and other customary conditions. The transaction is not subject to a financing condition.

As previously disclosed, the transaction has been approved by the Boards of Directors of Asahi Kasei and ZOLL. The ZOLL Board of Directors has recommended that ZOLL stockholders accept the offer and tender their shares into the offer.

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.

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 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)
  Asahi Kasei Chemicals and Daiso Dissolves JV  (Mar 12, 2012)



 Recent  Medical News   
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)
EIZO, Stryker to Partner in Monitor Management Systems for Operating Rooms (Oct 8, 2013)
HOYA to Invest in EndoMaster, for Robotic-assisted Surgical Systems (Aug 19, 2013)
Dainippon Screen Launches High-speed Three-dimensional Cell Culture Scanner (Aug 8, 2013)
Daiichi Sankyo Expands Collaborative Drug Discovery Program to Germany, Switzerland, and Austria (Aug 1, 2013)
Takara Bio to Distribute ZENOAQ's Cell Cryopreservation Medium in Japan, Europe, and North America (July 26, 2013)
Takara Bio launches Nippi's iMatrix-511 Worldwide (July 12, 2013)
Furukawa Electric Develops Quartz Dot Test Kit to Detect Acanthamoeba (July 10, 2013)
Takara Bio Grants Cellular Dynamics a Commercial License to Use RetroNectin for iPSC Production (June 24, 2013)

More Medical news...
 
CSR Report Download
Annual Reports

  More >>    
Most Popular


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