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Japanese Company to Buy Zoll Medical for $2.2 Billion

TOKYO (Reuters) -- Japan's Asahi Kasei Corp will buy U.S. medical equipment maker Zoll Medical Corp for $2.21 billion as it looks to build a global healthcare business and reduce reliance on its chemicals and fibers operations.

Asahi Kasei, which is seeking to expand its presence in the United States, will buy Zoll in an agreed cash deal for $93 a share, a 24 percent premium to Zoll's closing price on Friday, the companies said in a joint statement on Monday. The deal is Asahi Kasei's biggest acquisition by far.

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