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SUBSEQUENT EVENTS | 6 Months Ended
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Jun. 30, 2018
SUBSEQUENT EVENTS. |
SUBSEQUENT EVENTS | NOTE 19 – SUBSEQUENT EVENTS On July 26, 2018, the Company announced it has made a binding offer to acquire CSP Technologies, a leader in active packaging technology based on proprietary material science expertise, for an enterprise value of $555 million. The Company expects to enter into a definitive stock purchase agreement with CSP Technologies upon completion of the consultation process with CSP Technologies’ works council in France. The purchase will be funded with available cash on hand. The proposed transaction, which has been approved by the Company’s Board of Directors, will be subject to customary closing conditions, including regulatory approvals, and is expected to close in the fourth quarter of this year. For the quarter ended June 30, 2018, we recognized $1.9 million in transaction costs related to the binding offer. These costs are reflected in the selling, research & development and administrative line of the Condensed Consolidated Statements of Income.

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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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