Japanese Health Giant Snaps Up Device Maker For $2.2B

Law360, New York (March 12, 2012, 7:00 PM EDT) -- Japanese health care chemical giant Asahi Kasei Corp. has purchased Massachusetts emergency care device maker Zoll Medical Corp. for more than $2.2 billion, the companies said Monday.

The Tokyo-based firm, which makes chemicals for the health care, construction and electronics industries, purchased Zoll for $93 per share in cash, or about $2.21 billion, Asahi Kasei said. 

Though no official agreement has been signed, the boards of directors of both companies have approved the deal.

The Japanese firm said it would make a tender offer to purchase...
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