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Acquisition Acquisition | 6 Months Ended
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Mar. 31, 2017
Business Combinations [Abstract] |
Business Combination Disclosure [Text Block] | Note 3. Acquisition On February 15, 2017, we acquired Singer Valve, a manufacturer of automatic control valves, and its affiliate that distributes Singer Valve products in the U.S, for an aggregate cash purchase price of approximately $26.5 million, subject to customary post-closing adjustments, which we do not expect to be material. Singer had net sales of approximately $15 million in calendar 2016 and is included in our Mueller Co. segment. The initial allocation of purchase price to the assets and liabilities of these companies, which is still subject to change, is presented below, in millions.
Assets acquired and liabilities assumed: |
Cash | $ | 0.3 |
Receivables | 2.9 |
Inventories | 4.5 |
Other current assets | 0.4 |
Property, plant and equipment | 0.9 |
Intangible assets and goodwill | 18.2 |
Accounts payable | (0.5 | )
Other current liabilities | (0.2 | )
Consideration paid | $ | 26.5 |
We have not yet completed our identification and valuation of intangible assets, but we expect that any goodwill recognized will be deductible for income tax purposes.

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