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Acquisitions
6 Months Ended
Mar. 31, 2019
Acquisitions [Abstract]  
Acquisitions ACQUISITIONS
Fiscal Year 2019 Acquisition
During the second quarter of fiscal year 2019, we completed the acquisition of ACP Europe SA, the largest independent carbon dioxide business in Continental Europe, for an aggregate purchase price, net of cash acquired, of $106.3. We expect this acquisition to enable us to better serve existing merchant customers and pursue new industrial gas growth opportunities across additional European geographies. The results of this business are consolidated within our Industrial Gases – EMEA segment and did not materially impact our consolidated income statements for the periods presented.
The acquisition was accounted for as a business combination and resulted in the recognition of $74.6 of plant and equipment and $38.0 of goodwill, partially offset by net liabilities acquired. The goodwill recognized on the transaction, none of which is deductible for tax purposes, was recorded in the Industrial Gases – EMEA segment and is attributable to expected growth and cost synergies.
The acquired assets and liabilities were recorded at their estimated fair values, which were calculated based on a preliminary purchase price allocation prepared by management. We may record adjustments to these assets and liabilities during the preliminary purchase price allocation period, which could be up to one year from the acquisition date.
Fiscal Year 2018 Acquisitions
During the first six months of fiscal year 2018, we completed five acquisitions that were accounted for as business combinations. These acquisitions had an aggregate purchase price, net of cash acquired, of $281.0. The largest of the acquisitions was completed during the first quarter of fiscal year 2018 and primarily consisted of three air separation units serving onsite and merchant customers in China, which strengthened our position in the region. The results of this business are consolidated within our Industrial Gases – Asia segment.