0001193125-19-267758.txt : 20191015 0001193125-19-267758.hdr.sgml : 20191015 20191015165925 ACCESSION NUMBER: 0001193125-19-267758 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20191015 ITEM INFORMATION: Other Events FILED AS OF DATE: 20191015 DATE AS OF CHANGE: 20191015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAMBREX CORP CENTRAL INDEX KEY: 0000820081 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 222476135 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10638 FILM NUMBER: 191151455 BUSINESS ADDRESS: STREET 1: ONE MEADOWLANDS PLZ CITY: E RUTHERFORD STATE: NJ ZIP: 07073 BUSINESS PHONE: 2018043000 MAIL ADDRESS: STREET 1: ONE MEADOWLANDS PLAZA CITY: E. RUTHERFORD STATE: NJ ZIP: 07073 8-K 1 d818086d8k.htm 8-K 8-K
CAMBREX CORP DE false 0000820081 0000820081 2019-10-15 2019-10-15

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):

October 15, 2019

 

CAMBREX CORPORATION

(Exact Name of Registrant as Specified in its Charter)

 

DELAWARE

 

1-10638

 

22-2476135

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

One Meadowlands Plaza

East Rutherford, New Jersey 07073

(Address of Principal Executive Offices Including Zip Code)

(201) 804-3000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common

 

CBM

 

NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  

 

 


Item 8.01 Other Events.

Certain Litigation Relating to the Merger

As described in greater detail in the section entitled “The Merger—Litigation Relating to the Merger” in the definitive proxy statement of Cambrex Corporation (the “Company”) filed with the Securities and Exchange Commission on September 23, 2019 and first mailed to the Company’s stockholders on or about September 26, 2019 (the “Proxy Statement”), a lawsuit captioned captioned Stein v. Cambrex Corp. et al., Case No. 2:19-cv-18106 (D. N.J.) is pending in the United States District Court for the District of New Jersey. Since the filing of the Proxy Statement, two additional stockholder complaints have been filed. Thompson v. Cambrex Corp. et al., Case No. 1:19-cv-01793-UNA (D. Del.), a purported class action lawsuit, was filed on September 24, 2019 in the United States District Court for the District of Delaware against the Company and the members of the Company’s board of directors, and Patel v. Cambrex Corp. et al., Case No. 2:19-cv-18474 was filed on September 27, 2019 in the United States District Court for the District of New Jersey against the Company and the members of the Company’s board of directors. We refer to these pending lawsuits, collectively, as the “Merger Litigation.” The Merger Litigation relates to the Agreement and Plan of Merger, dated as of August 7, 2019 (the “Merger Agreement”), by and among Catalog Intermediate Inc. (“Parent”), Catalog Merger Sub Inc. (“Merger Sub”) and the Company, providing for the merger of Merger Sub with and into the Company (the “Merger”), with the Company surviving the Merger as a wholly owned direct subsidiary of Parent. Each of the plaintiffs in the Merger Litigation alleges violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 and Rule 14a-9 promulgated thereunder and seeks various forms of injunctive and declaratory relief, as well as an award of costs and attorneys’ fees.

The Company believes that no further supplemental disclosure is required under applicable securities laws; however, to avoid the risk of the Merger Litigation delaying or adversely affecting the Merger and to minimize the expense of defending such action, the company hereby makes certain supplemental disclosures related to the proposed Merger, all of which are set forth below.

Supplement to Proxy Statement

The additional disclosures in this Current Report on Form 8-K supplement the disclosures contained in the Proxy Statement and should be read in conjunction with the disclosures contained in the Proxy Statement, which in turn should be read in its entirety. To the extent that information in this Current Report on Form 8-K differs from or updates information contained in the Proxy Statement, the information in this Current Report on Form 8-K shall supersede or supplement the information in the Proxy Statement. Nothing in this Current Report on Form 8-K shall be deemed an admission of the legal necessity or materiality of any of the disclosures set forth herein. Capitalized terms used herein, but not otherwise defined, shall have the meanings ascribed to such terms in the Proxy Statement, all page references below are to pages in the Proxy Statement, and terms used below, unless otherwise defined, have the meanings set forth in the Proxy Statement.

The Merger - Background of the Merger

The disclosure under the heading “The Merger—Background of the Merger” is hereby supplemented as follows:

  1. by adding the following disclosure at the end of the second paragraph under the heading “Background of the Merger” on page 30:

The Company and Morgan Stanley entered into an engagement letter on February 13, 2018, pursuant to which Morgan Stanley would provide the Company with financial advice and assistance in connection with a possible sale transaction, including with respect to defining objectives, performing valuation analyses and structuring, planning and negotiating a potential transaction. As contemplated by the engagement letter, from time to time over the course of Morgan Stanley’s engagement, Morgan Stanley provided the Board with additional information regarding the historical and any current relationships between Morgan Stanley, on the one hand, and the Company or the potential buyers, including Permira, on the other hand.


  2. by amending the third paragraph under the heading “Background of the Merger,” which appears on pages 30-31, as follows:

  a. by adding the following disclosure after the first sentence:

In reaching this determination, the Board of Directors took into account the high multiples at which similar businesses were valued at that time.

  b. by adding the following disclosure after the fourth sentence:

The Board of Directors discussed the perspective that, given the Company’s size, there were only a small number of potential strategic buyers that would be capable of acquiring the Company and that due to strategic fit, existing financial leverage, recent acquisitions already executed and other factors, those potential strategic buyers would be unlikely to be interested in ultimately pursuing a transaction with the Company.

  c. by amending and restating the final sentence to read:

To assist the Board of Directors in managing the process of exploring strategic alternatives, the Board of Directors determined to form an ad hoc committee of convenience consisting of Louis Grabowsky, Ilan Kaufthal and Shlomo Yanai (the “ad hoc committee”), which would, among other things, determine the potential buyers to initially reach out to.

  3. by amending and restating the first full paragraph on page 31 to read:

Pursuant to the mandate of the Board of Directors, and taking into account the views of the Company management and advice from Morgan Stanley, the ad hoc committee authorized Morgan Stanley to reach out to determine potential interest in a sale transaction with four financial sponsors, including Permira, between February 2018 and April 2018. The Company entered into confidentiality agreements with each of the four financial sponsors. Each such confidentiality agreement contained one-year standstill provisions, prohibited requesting waivers of the standstill and expressly permitted the submission of private proposals to the Company. For two of such confidentiality agreements, the standstill provisions would also fall away upon the Company’s entry into a change of control transaction.

To facilitate these financial sponsors’ evaluation of a potential transaction, the Company held a management meeting with each of these financial sponsors. Following the management meetings, two of the financial sponsors indicated that they would not be in a position to submit a proposal with a value representing a premium to the Company’s trading price, and the other two financial sponsors, Permira and another party which we refer to as Party A, submitted initial indications of interest (with Permira indicating a price per share of up to $60 and Party A indicating a price range between $60.50 to $65.50 per share). After conducting additional due diligence on the Company, each of Permira and Party A indicated to representatives of the Company that it did not intend to further proceed because it did not believe it could submit a proposal at a price level for a transaction that would be competitive given the Company’s then trading price.

In a meeting of the Board of Directors held on December 8, 2017, Claes Glassell, a member of the Board of Directors, disclosed to the Board of Directors that he was an advisor for Permira and the chairman of one of Permira’s portfolio companies. In light of the fact that Permira was only one of a number of potential bidders at this time, it was the sense of the Board of Directors that Mr. Glassell could continue to participate in meetings of the Board of Directors at this preliminary stage of the 2018 strategic process but that any potential conflict of interest should be monitored and managed if Permira were to enter the next stage of the process.

  4. by adding the following disclosure as a new paragraph following the third full paragraph on page 31:

In November 2018, Party B approached the Company to discuss a potential transaction and the Company and Party B entered into a confidentiality agreement, which contained one-year standstill provisions, prohibited requesting waivers of the standstill and expressly permitted the submission of private proposals to the Company. The standstill provisions would also fall away upon the Company’s entry into a change of control transaction. Thereafter until May 2019, Party B reached out to the Company from time to time to discuss the possibility of a potential transaction. No such discussions resulted in any proposal from Party B.

  5. by adding the following disclosure at the end of the first paragraph on page 32:

The May 20 Proposal did not contain any proposal relating to management retention or employment after the Effective Time.


  6. by amending the second paragraph on page 32 as follows:

  a. by amending and restating the second sentence to read:

Mr. Glassell disclosed to the Board of Directors again that he was an advisor for Permira and the chairman of one of Permira’s portfolio companies and, therefore, that he would recuse himself from future board discussions regarding a potential transaction with Permira. Mr. Yanai, non-executive Chairman of the Board of Directors and a member of the ad hoc committee, informed the Board of Directors of the recent outreach from Party B and Permira.

  b. by amending and restating the penultimate sentence to read:

Following these discussions, taking into account the risks associated with such an outreach and the feedback received from certain third parties during the process conducted by the Company in early 2018 that such parties were not able to offer a price competitive given the Company’s then trading price, the Board of Directors determined that, as the next step, the Company should inform Party B that the Company had received interest from another party and again invite Party B to provide an indication of value for a potential transaction involving the Company.

  7. by adding the following disclosure at the end of the sixth paragraph on page 32:

The June 20 Proposal did not contain any proposal relating to management retention or employment after the closing.

  8. by amending and restating the fourth full sentence on page 33 to read:

In this context, the Board of Directors discussed with the Company’s management and Morgan Stanley the identities of other parties which would likely be interested in pursuing a strategic transaction with the Company, including the likelihood of potential strategic buyers which would be interested in and capable of pursuing a transaction with the Company based on such parties’ strategic fit, financial leverage and recent acquisitions already executed, among other factors.

  9. by adding the following disclosure at the end of the fourth full paragraph on page 34:

The June 25 Proposal did not contain any proposal relating to management retention or employment after the closing.

  10. by amending and restating the fourth sentence of the final paragraph on page 34 to read:

Subsequently, in a meeting of the Board of Directors held on September 23, 2019, Morgan Stanley informed the Board of Directors that there was an error when determining the amount of aggregate fees paid to Morgan Stanley by Permira and its affiliates during the 30 prior months and the services in respect of which such fees were paid, and that during such period Morgan Stanley received approximately $34 million for financial advisory and financing services as opposed to approximately $11 million for financing services.

  11. by amending and restating the first sentence of the eighth paragraph on page 35 to read:

On July 31, 2019, a representative of Morgan Stanley received an inbound inquiry from another financial sponsor on behalf of one of its portfolio companies, which portfolio company we refer to as Party C, which inquired whether the Company was conducting a sale process.

  12. by adding the following disclosure at the end of the first paragraph on page 36:

The August 1 Proposal did not contain any proposal relating to management retention or employment after the closing.


  13. by amending the final paragraph on page 37 as follows:

  a. by adding the following disclosure after the first sentence:

Each such confidentiality agreement contained one-year standstill provisions, prohibited requesting waivers of the standstill and expressly permitted the submission of private proposals to the Company. The standstill provisions would also fall away upon the Company’s entry into a change of control transaction.

  b. by amending and restating the second and third sentences to read:

Each of the eight parties that entered into a confidentiality agreement with the Company was provided a confidential information memorandum that was substantially the same as the one previously provided to Permira. Following the provision of such materials, only Party C proceeded to conduct an extensive due diligence review of the Company, including participating in multiple diligence discussions with the Company’s management, and requested and received access to certain due diligence documents previously provided to Permira, subject to a customary clean team arrangement.

Management Projections

The disclosure under the heading “The Merger—Management Projections” and under the subheading “Case A Projections” is hereby supplemented by adding a second half 2019E column and Taxes and Change in Net Working Capital line items to the table on page 42 and revising note (2) so that the table appears as follows:

 

2H
2019E

   

2020E

   

2021E

   

2022E

   

2023E

   

2024E

 

Net Revenue

   

341

     

695

     

789

     

876

     

974

     

1,023

 

Adj. EBITDA(1)

   

77

     

165

     

205

     

238

     

278

     

301

 

Capex

   

(31

)    

(88

)    

(100

)    

(80

)    

(79

)    

(64

)

Taxes

   

(8

)    

(23

)    

(33

)    

(39

)    

(48

)    

(54

)

Change in Net Working Capital

   

18

     

(38

)    

(14

)    

(9

)    

(17

)    

(21

)

Unlevered Free Cash Flow(2)

   

57

     

14

     

57

     

109

     

132

     

160

 

(1) Adjusted EBITDA is earnings before interest expense, income taxes, depreciation and amortization, facility closure expenses, acquisition and integration expenses and purchase accounting charges related to acquisitions.
(2) Unlevered free cash flow means Adjusted EBITDA, less (i) cash taxes, (ii) capital expenditures and (iii) change in net working capital, in the amounts set forth below. Normalized unlevered free cash flow for 2024 based on the Case A Projections was equal to $155 million.

The disclosure under the heading “The Merger—Management Projections” and under the subheading “Case B Projections” is hereby supplemented by adding a second half 2019E column and Taxes and Change in Net Working Capital line items to the table on page 43 and revising note (2) so that the table appears as follows:

 

2H
2019E

   

2020E

   

2021E

   

2022E

   

2023E

   

2024E

 

Net Revenue

   

332

     

695

     

789

     

876

     

974

     

1,023

 

Adj. EBITDA(1)

   

68

     

166

     

207

     

248

     

292

     

315

 

Capex

   

(31

)    

(79

)    

(96

)    

(72

)    

(73

)    

(55

)

Taxes

   

(5

)    

(24

)    

(34

)    

(43

)    

(52

)    

(58

)

Change in Net Working Capital

   

24

     

(38

)    

(14

)    

(9

)    

(17

)    

(21

)

Unlevered Free Cash Flow(2)

   

57

     

23

     

63

     

123

     

149

     

180

 

(1) Adjusted EBITDA is earnings before interest expense, income taxes, depreciation and amortization, facility closure expenses, acquisition and integration expenses and purchase accounting charges related to acquisitions.
(2) Unlevered free cash flow means Adjusted EBITDA, less (i) cash taxes, (ii) capital expenditures and (iii) change in net working capital, in the amounts set forth below. Normalized unlevered free cash flow for 2024 based on the Case B Projections was equal to $173 million.


Opinion of the Company’s Financial Advisor

The disclosure under the heading “The Merger—Opinion of the Company’s Financial Advisor” and under the subheading “Summary of Financial Analyses—Precedent Transactions Analysis—Precedent Premiums Paid Analysis” is hereby supplemented by amending and restating the first sentence under such subheading to read as follows:

Morgan Stanley considered, based on publicly available information, premiums paid in all bids for control of U.S. public targets with an aggregate value of $1.0 billion or more announced on or before March 31, 2019 involving all cash, all stock and cash/stock mix consideration, but excluding outliers, terminated transactions, ESOPs, self-tenders, spin-offs, share repurchases, minority interest transactions, exchange offers, recapitalizations and restructurings.

The disclosure under the heading “Opinion of the Company’s Financial Advisor” and under the subheading “Summary of Financial Analyses—Discounted Cash Flow Analysis” is hereby supplemented as follows:

  1. by adding the following disclosure to the end of the fifth sentence of the final paragraph on page 50:

and taking into account, among other factors, the Management Projections

  2. by adding the following disclosure to the end of the final paragraph on page 50:

The discounted ranges of terminal values were (i) $1.647 billion – $2.185 billion with respect to the Case A Projections and (ii) $1.844 billion – $2.445 billion with respect to the Case B Projections. Morgan Stanley derived such discount rates by application of the capital asset pricing model, which requires certain company-specific inputs, including the Company’s target capital structure weightings, the cost of long-term debt, future applicable marginal cash tax rate and a beta for the company, as well as certain financial metrics for the U.S. financial markets generally.

  3. by amending and restating the first sentence on page 51 to read:

Based on the above-described analysis and approximately 34 million fully diluted outstanding shares of the Company as of August 5, 2019, which number of outstanding shares of the Company was provided by the Company, Morgan Stanley derived the following ranges of implied values per share of Company Common Stock, rounded to the nearest $1.00:

The disclosure under the heading “Opinion of the Company’s Financial Advisor” and under the subheading “Other Information—Illustrative Leveraged Buyout Analysis” is hereby supplemented by adding the following disclosure to the end of the penultimate sentence under that subheading on page 51:

and taking into consideration, among other things, current market conditions at the time of Morgan Stanley’s analysis and the Company’s debt capacity

The disclosure under the heading “Opinion of the Company’s Financial Advisor” and under the subheading “Other Information—Equity Research Analysts’ Price Targets” is hereby supplemented by amending and restating the third sentence under that subheading on page 51:

The undiscounted analyst price targets for the shares of Company Common Stock, rounded to the nearest $1.00, were $44.00, $45.00, $52.00 and $55.00.

The disclosure under the heading “Opinion of the Company’s Financial Advisor” and under the subheading “General” is hereby supplemented by amending and restating the second full paragraph on page 53 to read:

Under the terms of its engagement letter entered into with the Company on February 13, 2018, Morgan Stanley provided the Company financial advisory services and a financial opinion, described in this section and attached to this proxy statement as Annex B, in connection with the Merger, and the Company has agreed, pursuant to such engagement letter, to pay Morgan Stanley a fee of approximately $20.5 million for its financial advisory services, approximately $1.5 million of which was payable in connection with the delivery of the fairness opinion and approximately $19.0 million of which is contingent upon consummation of the Merger. Morgan Stanley did not receive separate compensation for its service during the Company’s 2018 strategic process described in the section of this proxy statement captioned “The Merger—Background of the Merger.” The Company has also agreed to reimburse Morgan Stanley for its reasonable and documented expenses incurred from time to time in connection with this engagement. In addition, the Company has agreed to indemnify Morgan Stanley and its affiliates, its and their respective directors, officers, employees and agents and each other person, if any, controlling Morgan Stanley or any of its affiliates, against any losses, claims, damages or liabilities, relating to, arising out of or in connection with Morgan Stanley’s engagement and to reimburse certain expenses relating to such indemnity.


Interests of the Company’s Directors and Executive Officers in the Merger

The disclosure under the heading “The Merger—Interests of the Company’s Directors and Executive Officers in the Merger—Arrangements with Parent” is hereby supplemented by amending and restating the first sentence on page 54 to read:

As of October 15, 2019, none of our directors or executive officers has entered into any agreement or discussion with Parent or any of its affiliates regarding employment with, or the right to purchase or participate in the equity of, the Company or one or more of its affiliates following the Effective Time.

Cautionary Language Concerning Forward-Looking Statements

Information set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between the Company and Permira, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be identified by the fact that they use words such as “may,” “will,” “could,” “should,” “would,” “expect,” “anticipate,” “intend,” “estimate,” “believe” or similar expressions. Any forward-looking statements contained herein are based on current plans and expectations and involve risks and uncertainties that could cause actual outcomes and results to differ materially from current expectations. These forward-looking statements are subject to risks and uncertainties, and actual results might differ materially from those discussed in, or implied by, the forward-looking statements. Such forward-looking statements may include, but are not limited to, statements about the anticipated benefits of the Merger, including future financial and operating results, expected synergies and cost savings related to the Merger, the plans, objectives, expectations and intentions of the Company, Permira and the combined company, the expected timing of the completion of the Merger, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of the Company or Permira, as applicable, and are qualified by the inherent risks and uncertainties surrounding future expectations generally, and actual results could differ materially from those currently anticipated due to a number of risks and uncertainties. Neither the Company nor Permira, nor any of their respective directors, executive officers or advisors, provide any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, the risk that the Company’s stockholders may not adopt the Merger Agreement, the risk that the necessary regulatory approvals may not be obtained or may be obtained subject to conditions that are not anticipated, risks that any of the closing conditions to the Merger may not be satisfied or waived in a timely manner, risks related to disruption of management time from ongoing business operations due to the Merger, the effect of the announcement of the Merger on the ability of the Company to retain customers and retain and hire key personnel and maintain relationships with its suppliers and other business partners, and on their operating results and businesses generally, the risk that potential litigation in connection with the Merger may affect the timing or occurrence of the Merger or result in significant costs of defense, indemnification and liability and transaction costs.

The forward-looking statements are based on the beliefs and assumptions of Company management and the information available to Company management as of the date of this report. The Company cautions investors not to place undue reliance on expectations regarding future results, levels of activity, performance, achievements or other forward-looking statements. The information contained in this document is provided by the Company as of the date hereof, and, unless required by law, the Company does not undertake and specifically disclaims any obligation to update these forward-looking statements contained in this document as a result of new information, future events or otherwise.

Discussions of additional risks and uncertainties are and will be contained in the Company’s filings with the SEC, including the “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018. You can obtain copies of the Company’s filings with the SEC for free at the SEC’s website (www.sec.gov).


Certain Information Regarding Participants

The Company and certain of its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding the Company’s directors and executive officers is available in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, which was filed with the SEC on February 13, 2019, and in its proxy statement for the 2019 Annual Meeting, which was filed with the SEC on March 12, 2019. To the extent holdings of Company securities have changed since the amounts printed in the proxy statement for the 2019 Annual Meeting, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are contained in the Proxy Statement. These documents will be available free of charge from the sources indicated below.

Important Information and Where to Find It

In connection with the proposed transaction, the Company has filed with the SEC a Proxy Statement with respect to a special meeting of the Company’s stockholders to approve the transaction. The definitive Proxy Statement was mailed to the stockholders of the Company on or about September 26, 2019. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN AND WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY AND THE TRANSACTION.

Investors and security holders will be able to obtain these materials and other relevant documents filed with the SEC free of charge at the SEC’s website, www.sec.gov. In addition, copies of the Proxy Statement may be obtained free of charge by accessing the Company’s website at www.cambrex.com or by contacting the Company’s investor relations department by email at stephanie.lafiura@cambrex.com.

No Solicitation

This communication shall not constitute solicitation of any vote or approval with respect to any securities in respect of the proposed transaction.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CAMBREX CORPORATION

     

By:

 

/s/ Samantha Hanley

Name:

 

Samantha Hanley

Title:

 

Vice President and General Counsel

Date: October 15, 2019

EX-101.SCH 2 cbm-20191015.xsd XBRL TAXONOMY EXTENSION SCHEMA 100000 - Document - Document and Entity Information link:calculationLink link:presentationLink link:definitionLink EX-101.LAB 3 cbm-20191015_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Cover [Abstract] Cover [Abstract] Entity Registrant Name Entity Registrant Name Entity Incorporation State Country Code Entity Incorporation State Country Code Amendment Flag Amendment Flag Entity Central Index Key Entity Central Index Key Document Type Document Type Document Period End Date Document Period End Date Entity File Number Entity File Number Entity Tax Identification Number Entity Tax Identification Number Entity Address, Address Line One Entity Address, Address Line One Entity Address, City or Town Entity Address, City or Town Entity Address, State or Province Entity Address, State or Province Entity Address, Postal Zip Code Entity Address, Postal Zip Code City Area Code City Area Code Local Phone Number Local Phone Number Written Communications Written Communications Soliciting Material Soliciting Material Pre Commencement Tender Offer Pre Commencement Tender Offer Pre Commencement Issuer Tender Offer Pre Commencement Issuer Tender Offer Security 12b Title Security 12b Title Trading Symbol Trading Symbol Security Exchange Name Security Exchange Name Entity Emerging Growth Company Entity Emerging Growth Company EX-101.PRE 4 cbm-20191015_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE ZIP 5 0001193125-19-267758-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001193125-19-267758-xbrl.zip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end EXCEL 6 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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etaLinks.json IDEA: XBRL DOCUMENT { "instance": { "d818086d8k.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "inline": { "local": [ "d818086d8k.htm" ] }, "labelLink": { "local": [ "cbm-20191015_lab.xml" ], "remote": [ "https://xbrl.sec.gov/dei/2019/dei-doc-2019-01-31.xml" ] }, "presentationLink": { "local": [ "cbm-20191015_pre.xml" ] }, "referenceLink": { "remote": [ "https://xbrl.sec.gov/dei/2019/dei-ref-2019-01-31.xml" ] }, "schema": { "local": [ "cbm-20191015.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "https://xbrl.sec.gov/dei/2019/dei-2019-01-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd", "https://xbrl.sec.gov/naics/2017/naics-2017-01-31.xsd", "http://www.xbrl.org/2006/ref-2006-02-27.xsd", "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd" ] } }, "elementCount": 23, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2019-01-31": 4, "total": 4 }, "keyCustom": 0, "keyStandard": 97, "memberCustom": 0, "memberStandard": 0, "nsprefix": "cbm", "nsuri": "http://www.cambrex.com/20191015", "report": { "R1": { "firstAnchor": { "ancestors": [ "span", "p", "div", "body", "html" ], "baseRef": "d818086d8k.htm", "contextRef": "duration_2019-10-15_to_2019-10-15", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "100000 - Document - Document and Entity Information", "role": "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation", "shortName": "Document and Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "span", "p", "div", "body", "html" ], "baseRef": "d818086d8k.htm", "contextRef": "duration_2019-10-15_to_2019-10-15", "decimals": null, "first": true, "lang": "en-US", "name": "dei:DocumentType", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag", "terseLabel": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Area code of city", "label": "City Area Code", "terseLabel": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_CoverAbstract": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Cover page.", "label": "Cover [Abstract]", "terseLabel": "Cover [Abstract]" } } }, "localname": "CoverAbstract", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.", "label": "Document Period End Date", "terseLabel": "Document Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document Type", "terseLabel": "Document Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity Address, Address Line One", "terseLabel": "Entity Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the City or Town", "label": "Entity Address, City or Town", "terseLabel": "Entity Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity Address, Postal Zip Code", "terseLabel": "Entity Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Name of the state or province.", "label": "Entity Address, State or Province", "terseLabel": "Entity Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity Central Index Key", "terseLabel": "Entity Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity Emerging Growth Company", "terseLabel": "Entity Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity File Number", "terseLabel": "Entity File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity Incorporation State Country Code", "terseLabel": "Entity Incorporation State Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity Registrant Name", "terseLabel": "Entity Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r5" ], "lang": { "en-US": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity Tax Identification Number", "terseLabel": "Entity Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "employerIdItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number", "terseLabel": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r2" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre Commencement Issuer Tender Offer", "terseLabel": "Pre Commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre Commencement Tender Offer", "terseLabel": "Pre Commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-US": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Security 12b Title", "terseLabel": "Security 12b Title" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r1" ], "lang": { "en-US": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name", "terseLabel": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r4" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material", "terseLabel": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-US": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol", "terseLabel": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-US": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications", "terseLabel": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2019-01-31", "presentation": [ "http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r5": { "Name": "Regulation 12B", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } XML 8 R1.htm IDEA: XBRL DOCUMENT v3.19.3
Document and Entity Information
Oct. 15, 2019
Cover [Abstract]  
Entity Registrant Name CAMBREX CORP
Entity Incorporation State Country Code DE
Amendment Flag false
Entity Central Index Key 0000820081
Document Type 8-K
Document Period End Date Oct. 15, 2019
Entity File Number 1-10638
Entity Tax Identification Number 22-2476135
Entity Address, Address Line One One Meadowlands Plaza
Entity Address, City or Town East Rutherford
Entity Address, State or Province NJ
Entity Address, Postal Zip Code 07073
City Area Code (201)
Local Phone Number 804-3000
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common
Trading Symbol CBM
Security Exchange Name NYSE
Entity Emerging Growth Company false
XML 10 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 12 FilingSummary.xml IDEA: XBRL DOCUMENT 3.19.3 html 1 97 1 false 0 0 false 0 false false R1.htm 100000 - Document - Document and Entity Information Sheet http://www.cambrex.com//20191015/taxonomy/role/DocumentDocumentAndEntityInformation Document and Entity Information Cover 1 false false All Reports Book All Reports d818086d8k.htm cbm-20191015.xsd cbm-20191015_lab.xml cbm-20191015_pre.xml http://xbrl.sec.gov/dei/2019-01-31 true false XML 13 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 14 d818086d8k_htm.xml IDEA: XBRL DOCUMENT 0000820081 2019-10-15 2019-10-15 CAMBREX CORP DE false 0000820081 8-K 2019-10-15 1-10638 22-2476135 One Meadowlands Plaza East Rutherford NJ 07073 (201) 804-3000 false false false false Common CBM NYSE false