secwatch.observer — SEC 8-K summary
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Issuer:     WATERS CORP /DE/ (WAT)
CIK:        0001000697
Form:       8-K
Filed at:   2025-07-14T23:59:59+00:00
Accession:  0001193125-25-158409
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Waters to combine with BD's Biosciences & Diagnostic Solutions in $17.5B deal
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- Deal valued at ~$17.5B; Waters shareholders own ~60.8%, BD shareholders ~39.2% of combined co.
- Pro forma 2025 revenue ~$6.5B, adjusted EBITDA ~$2.0B; expected accretive to adj EPS in Y1.
- Targets mid-to-high single-digit revenue growth and mid-teens adj EPS growth annually 2025-2030.
- Anticipates ~$345M annualized EBITDA synergies by 2030: $200M cost by Y3, $290M revenue by Y5.
- Closing expected around end of Q1 2026, subject to regulatory approvals and Waters shareholder vote.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000697/000119312525158409/0001193125-25-158409-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000697/000119312525158409/d935060d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-158409

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