SUBSEQUENT EVENTS

6 Months Ended

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.