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Note 16 - Subequent Events
6 Months Ended
Jul. 01, 2018
Notes to Financial Statements  
Subsequent Events [Text Block]
Note
16
– SUBSEQUENT EVENTS
 
On
August 7, 2018,
subsequent to the end of the
second
quarter, the Company completed the acquisition of nora for a purchase price of
€385
million, or approximately
$447
million at the exchange rate as of the transaction date, including acquired cash of approximately
€41
million (approximately
$47
million) for a net purchase price of approximately
€344
million (approximately
$400
million). The transaction will be accounted for as a business combination using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recorded at their fair market values as of the acquisition date. The determination of the fair values of the liabilities assumed and assets acquired as well as pro forma results of operations and financial position are incomplete due to the recent date of the acquisition. The results of operations for this acquisition will be consolidated with those of the Company from the acquisition date forward. 
 
In connection with the acquisition of nora, the Company amended and restated its Syndicated Credit Facility as described in Item
1.01
of the Form
8
-K the Company filed on
July 26, 2018.
The purpose of the amended and restated facility is to fund the purchase price and related fees and expenses of the nora acquisition, and to increase the credit available to the Company and its subsidiaries following the closing of the nora acquisition in view of the larger enterprise that will result from such transaction.