SUBSEQUENT EVENTS |
12 Months Ended |
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Dec. 31, 2015 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS |
SUBSEQUENT EVENT
The Company intends to acquire 100% of the ordinary shares of Veda, as announced on November 21, 2015, for cash consideration of approximately $1.7 billion (2.4 billion Australian dollars) and debt assumed of approximately $188.4 million (261.5 million Australian dollars). The Company will account for this acquisition in accordance with ASC 805, Business Combinations, which requires the assets acquired and the liabilities assumed to be measured at fair value at the date of the acquisition. The Company has not included the unaudited pro forma information in this filing, as the Company has not yet finalized the acquisition.
In connection with the Veda acquisition, on February 9, 2016 we have drawn down on the Term Loan Facility for $800.0 million, and on February 16, 2016, we have drawn down on the 364-day Revolver for $275.0 million.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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