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Business Combinations (Notes)
3 Months Ended
Sep. 30, 2017
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block]
BUSINESS COMBINATION AND RELATED FINANCING TRANSACTIONS
On October 23, 2017, the Company acquired Cook Pharmica LLC ("Cook Pharmica"), a biologics-focused contract development and manufacturing organization with capabilities across biologics development, clinical and commercial cell culture manufacturing, formulation, finished-dose manufacturing, and packaging for an aggregate purchase price of approximately $950 million, of which (i) $750 million was paid on the closing date, subject to an earlier deposit and customary purchase price adjustments and (ii) $200 million is payable in $50 million installments, on each anniversary of the closing date over a period of four years. The Company funded the portion of the acquisition consideration due at its closing with available cash, and the net proceeds of a public offering of its common stock and a private offering of a new issuance of notes. The Company is in the process of of determining the fair value of the assets acquired and liabilities assumed at the date of purchase, which will be included in our second quarter results. Refer to Note 5 and 12 for further discussion of changes in our indebtedness and the stock offering.
On October 18, 2017, Operating Company completed a private offering (the "Debt Offering") of $450 million aggregate principal amount of 4.875% senior unsecured notes due 2026 (the "USD Notes"). The USD Notes are guaranteed by all of the wholly owned U.S. subsidiaries of Operating Company that guarantee its senior secured credit facilities, including Cook Pharmica. The USD Notes were offered in the U.S. to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and outside the U.S. only to non-U.S. investors pursuant to Regulation S under the Securities Act. The USD Notes will mature on January 15, 2026, bear interest at the rate of 4.875% per annum, and are payable semi-annually in arrears on January 15 and July 15 of each year beginning on July 15, 2018. The September 30, 2017 balance sheet does not reflect the Debt Offering. The net proceeds of the Debt offering, after payment of the initial purchasers' discount and related fees and expenses, were used to fund a portion of the acquisition consideration at its closing. See also Note 5 for further discussion on the Debt Offering and the USD Notes.