Japanese company buying Mass. based Zoll Medical

CHELMSFORD, Mass. (AP) -- Japanese chemical manufacturer Asahi Kasei Corp. has agreed to buy Massachusetts-based medical device and software maker Zoll Medical Corp. for about $2.1 billion.

Under the deal announced Monday, Asahi is offering $93 per share for each Zoll share, a 23.8 percent premium over Zoll's closing price of $75.10.on Friday.

The offer has been approved by boards of directors for both companies.

After the deal is completed, Zoll will become a subsidiary of Asahi's global operation while maintaining its current management team, business units and operations.

Asahi Kasei is a major Japanese chemical manufacturer with a variety of businesses including health care, construction materials and electronics.

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