Dougherty & Co Downgrades Zoll Medical (ZOLL) to Sell; Acquired by Asahi Kasei
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Price: $93.00 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Dougherty & Co downgraded Zoll Medical (NASDAQ: ZOLL) from Buy to Sell, price target raised from $82 to $93.
Analyst, Deepak Chaulagai, said, "Asahi Kasei Corporation and ZOLL Medical corporation jointly announced today that the two companies have entered into a definitive merger agreement, pursuant to which Asahi will to acquire ZOLL for $93/share in cash. The transaction, valued at approximately $2.1 billion, represents a 23.8% premium over the ($75.10) closing price on March 9, 2012."
"The cash tender, to purchase all outstanding shares of ZOLL’s common stock, is expected to commence within 10 business days and remain open for a minimum of 20 business days. ZOLL’s board has approved the deal, and barring another offer, we expect the transaction to close in the second quarter of 2012 following regulatory clearance. Following the merger, ZOLL, as a wholly owned subsidiary of the Asahi Kasei Group."
For an analyst ratings summary and ratings history on Zoll Medical click here. For more ratings news on Zoll Medical click here.
Shares of Zoll Medical closed at $75.10 yesterday.
Analyst, Deepak Chaulagai, said, "Asahi Kasei Corporation and ZOLL Medical corporation jointly announced today that the two companies have entered into a definitive merger agreement, pursuant to which Asahi will to acquire ZOLL for $93/share in cash. The transaction, valued at approximately $2.1 billion, represents a 23.8% premium over the ($75.10) closing price on March 9, 2012."
"The cash tender, to purchase all outstanding shares of ZOLL’s common stock, is expected to commence within 10 business days and remain open for a minimum of 20 business days. ZOLL’s board has approved the deal, and barring another offer, we expect the transaction to close in the second quarter of 2012 following regulatory clearance. Following the merger, ZOLL, as a wholly owned subsidiary of the Asahi Kasei Group."
For an analyst ratings summary and ratings history on Zoll Medical click here. For more ratings news on Zoll Medical click here.
Shares of Zoll Medical closed at $75.10 yesterday.
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