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Subsequent Events | 3 Months Ended
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Aug. 31, 2018
Subsequent Events [Abstract] |
Subsequent Events | NOTE 18 — SUBSEQUENT EVENTS Subsequent to the end of our first quarter, on September 10, 2018, we acquired Nudura Corporation, a manufacturer and distributor of insulated concrete forms in North America. The company, which is based in Ontario, Canada, has annual net sales of approximately $40.0 million, and will be included in our specialty reportable segment. Subsequent to the end of the current quarter, on September 25, 2018, we issued a notice of redemption for all $205.0 million aggregate principal amount of our outstanding 2.25% Convertible Senior Notes due 2020 (the “Convertible Notes”) on November 27, 2018 (the “Redemption Date”). The redemption price for the Convertible Notes is equal to 100% of the principal amount of the Convertible Notes to be redeemed plus accrued and unpaid interest until, but excluding, the Redemption Date. As a result of the issuance of the notice of redemption, the Convertible Notes are convertible at any time prior to the close of business on November 26, 2018. The current conversion rate is 19.185116 shares of RPM common stock per $1,000 original principal amount of the Convertible Notes, which is equivalent to a conversion price of approximately $52.12 per share (subject to adjustment in accordance with the terms of the Indenture). In accordance with the provisions of the indenture for the Convertible Notes, we have elected to settle any Convertible Notes surrendered for conversion through a combination settlement of cash and shares of RPM common stock. As of October 1, 2018, we have repurchased 689,640 shares of RPM common stock since August 31, 2018, at a cost of approximately $46.4 million, or an average cost of $67.26 per share, under the stock repurchase program described in Note 11.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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