ZOLL Medical Corporation (NASDAQ:ZOLL) Investor Investigation Over Potential Breaches Of Fiduciary Duties In Merger

If you are a current investor in ZOLL Medical Corporation (NASDAQ:ZOLL) shares and purchased your NASDAQ:ZOLL shares prior to March 12, 2012, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
ZOLL Medical
Affected Securities: 

San Diego, March 12, 2012 (Shareholders Foundation) -- 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.

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 GS: 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.

Zoll Medical Corporation said the $93offer represents a premium of 29.6% over ZOLL Medical’s volume weighted average closing stock price over the 30 trading day period ended March 9, 2012, and a 23.8% premium over the closing price on March 9, 2012.

Following the takeover news shares of ZOLL Medical Corporation (NASDAQ:ZOLL) jumped from $74.98 on Friday to $92.86 on Monday.

However, at least one analyst has set the high target price for NASDAQ:ZOLL stocks at $100 per share. Furthermore, ZOLL Medical’s performance increased over the past years. Its Total Revenue rose from $385.19million for a 52weeks period ending on Sept. 27, 2009 to $523.71million for a 52weeks period ending on Oct. 2, 2011. and its Net Income over the same time periods increased from $9.56million to $31.29million.

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.