|9 Months Ended|
Jun. 30, 2022
|Subsequent Events [Abstract]|
|Subsequent Events||Subsequent Events
Repurchases of Common Stock
Subsequent to June 30, 2022, the Company has repurchased approximately 291,000 shares of the Company’s common stock at a total cost of $11.9.
Proposed Acquisition of Herbold Meckesheim GmbH
On June 30, 2022, the Company entered into a definitive agreement to acquire Herbold Meckesheim GmbH (“Herbold”) for an enterprise value of approximately $83.1 (€79). Based in Meckesheim, Germany, Herbold is a leader in recycling systems, specializing in key process steps such as washing, separating, drying, shredding, and pulverizing. This transaction, which is expected to close during the fiscal fourth quarter of 2022, is subject to regulatory approval and other customary closing conditions.
Binding Offer to Acquire LINXIS Group SAS
On July 19, 2022, the Company signed a binding offer to acquire LINXIS Group SAS (“Linxis”) for an enterprise value of approximately $584.1 (€572). With a global footprint and corporate headquarters in Nantes, France, Linxis is a leading global provider of mixing, ingredient automation, and portioning solutions for food and other higher growth end markets. Upon completion of required works council consultations, the parties expect to enter into a definitive purchase agreement, with closing expected to occur before the end of calendar year 2022, subject to regulatory approvals.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef