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Subsequent Event
12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Event SUBSEQUENT EVENTOn February 15, 2021, the Company entered into a Business Combination Agreement (the “Agreement”) with AKASOL AG (“AKASOL”). As part of the agreement, a wholly-owned subsidiary of the Company will launch a voluntary public takeover offer at €120.00 per share in cash for all outstanding shares of AKASOL, which values 100% of AKASOL’s equity at approximately €727 million. Holders of approximately 59% of AKASOL’s outstanding shares have committed through Irrevocable Undertakings to accept the offer with respect to their shares. The Company anticipates that the transaction will be funded primarily with existing cash balances and potentially some incremental debt. Pursuant to the Agreement and to satisfy certain cash confirmation requirements in support of the acquisition pursuant to German law, on February 19, 2021, the Company entered into a $900 million, 364-day delayed draw term loan facility that is expected to remain undrawn. The transaction, which is expected to close in the second quarter of 2021, is subject to the satisfaction of customary closing conditions and receipt of regulatory approvals.