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SUBSEQUENT EVENT | 3 Months Ended
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Mar. 31, 2018
Subsequent Events [Abstract] |
SUBSEQUENT EVENT | SUBSEQUENT EVENT On April 23, 2018, we announced that we had entered into a definitive agreement to purchase Cues, Inc. (“Cues”), a leading manufacturer of pipeline inspection and rehabilitation equipment, headquartered in Orlando, Florida. Under the agreement, a subsidiary of SPX will be merged with Cues’ parent company, ELXSI Corporation (“ELXSI”). Upon completion of the merger, shareholders of ELXSI will receive cash consideration of $51 per share of common stock outstanding as of the effective time of the merger, or a total of approximately $189.0. The transaction is expected to close by the end of the second quarter of 2018 and is subject to customary closing conditions, approval by ELXSI’s shareholders, and certain termination rights in light of a “Superior Proposal” (as defined in the agreement). On May 2, 2018 we received notice of early termination of the Hart Scott Rodino waiting period for this transaction. The terms of the agreement are described in greater detail in our Form 8-K filed on April 23, 2018. Following the completion of the transaction, Cues’ results will be reported within our Detection and Measurement reportable segment.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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