By Colin Kellaher
American depositary shares of Itamar Medical Ltd. rose more than 45% Monday after the medical-device maker agreed to be acquired by Zoll Medical Corp. for about $538 million.
Zoll, a unit of Japan's Asahi Kasei Corp., said it would pay $31 an ADS for Itamar, a roughly 50.2% premium to Friday's closing price for the Caesarea, Israel, company.
Zoll said it expects to complete the acquisition by the end of the year.
Itamar ADSs were recently up 45.8% to $30.10.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
09-13-21 1102ET