An investigation on behalf of investors of ZOLL Medical Corporation (NASDAQ:ZOLL) in connection with the takeover was announced and NASDAQ:ZOLL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/13/2012 -- The announcement by Asahi Kasei Corporation that it intends to acquire with ZOLL Medical Corporation for $23 per NASDAQ:ZOLL shares caused an investigation for investors in ZOLL Medical Corporation (NASDAQ:ZOLL) shares concerning whether the offer to acquire ZOLL Medical Corporation and the buyout process are unfair to investors in NASDAQ:ZOLL shares.
Investors who purchased shares of ZOLL Medical Corporation (NASDAQ:ZOLL) prior to March 12, 2012 and currently hold those NASDAQ:ZOLL shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigations by law firms concern whether ZOLL Medical Corp., certain officers and directors, and/or others breached their fiduciary duties owed to ZOLL Medical Corporation (NASDAQ:ZOLL) investors in connection with the proposed acquisition.
On Monday, March 12, 2012, ZOLL Medical Corporation (NASDAQ: ZOLL) and Asahi Kasei Corporation (TSE1: 3407), announced that Asahi Kasei Corporation has entered into a merger agreement with ZOLL Medical Corporation, pursuant to which Asahi Kasei Corporation will acquire ZOLL Medical Corporation for approximately $2.21 billion. Under the terms of the proposed transaction Asahi Kasei Corporation, through a U.S. subsidiary, will make a cash tender offer to purchase all of the outstanding shares of ZOLL Medical Corporation common stock for $93 per share.
However, at least one analyst has set the high target price for NASDAQ:ZOLL stocks at $100 per share.
Therefore the investigation for NASDAQ:ZOLL investors concerns whether the ZOLL Medical Board of Directors undertook an adequate sales process and in particular breached their fiduciary duties to ZOLL Medical Corporation (NASDAQ:ZOLL) shareholders by failing to adequately shop the Company before entering into this transaction.
Those who are current investors in ZOLL Medical Corporation (NASDAQ:ZOLL) and purchased their NASDAQ:ZOLL shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com