secwatch.observer — SEC 8-K summary
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Issuer:     Zurn Elkay Water Solutions Corp (ZWS)
CIK:        0001439288
Form:       8-K
Filed at:   2022-02-14T23:59:59+00:00
Accession:  0001104659-22-021654
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zurn Water Solutions to acquire Elkay Manufacturing in all-stock deal valued at $1.56B
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- Zurn to issue up to 52.5M shares for 100% of Elkay; Elkay holders to own ~29% of combined company.
- Transaction valued at ~$1.56B based on Zurn's Feb. 11 close; implies 14.2x 2022E Adj. EBITDA (9.8x with synergies).
- Expected $50M in run-rate cost synergies by 2025; ~$25M in year one via procurement and cross-marketing.
- Combined company renamed Zurn Elkay Water Solutions Corporation; Todd Adams remains CEO; two Elkay directors added.
- Zurn Board plans to increase quarterly dividend to $0.07/share after close; closing expected in Q3 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1439288/000110465922021654/0001104659-22-021654-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1439288/000110465922021654/tm226396d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-021654

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer