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Subsequent Event
12 Months Ended
Dec. 03, 2011
Subsequent Event Abstract  
Subsequent Event Disclosure

Note 18: Subsequent Events (unaudited)

On December 21, 2011 we entered into an agreement to purchase the global industrial adhesives business of Forbo Group for approximately $394 million. Forbo Group is a manufacturer and supplier of industrial adhesives and is known for the breadth of its product line in all of our core market segments, particularly packaging and durable assembly. Forbo Group is based in Zug, Switzerland.

In conjunction with the pending acquisition of Forbo, we entered into foreign exchange forward contracts to purchase Swiss francs. Prior to closing the acquisition transaction, we intend to raise permanent financing through the private placement and syndicated bank loan markets. The acquisition has been approved by the Board of Directors of each of the companies. Subject to customary closing conditions and regulatory approvals, the transaction is expected to close as soon as March 2012.

On January 26, 2012, our Board of Directors approved a facility closure plan as part of the EIMEA operating segment transformation project. The plan includes closure of our facilities in Austria and Italy and the transfer of our EIMEA shared services functions to a single location in Portugal. The plan is expected to be completed in 2013.