---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-158796"
form_type: "8-K"
ticker: "WAT"
cik: "0001000697"
company_name: "WATERS CORP /DE/"
filed_at: "2025-07-14T23:59:59+00:00"
generated_at: "2026-05-18T06:35:48.047373+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Waters to acquire BD's Biosciences & Diagnostic Solutions via Reverse Morris Trust

## Summary
- Waters shareholders to own ~60.8% and former SpinCo shareholders ~39.2% of combined company post-merger.
- SpinCo will pay BD $4.0B cash prior to distribution; Waters arranged $1.8B bridge loan for potential special dividend.
- Transaction unanimously approved by both boards; expected close by July 13, 2026, subject to regulatory and shareholder approvals.
- Waters to pay BD $733M termination fee under certain circumstances if deal fails.
- Post-closing board will have 11-12 members, with 1-2 appointed by BD after consultation.

## SEC filing metadata
- accession: 0001193125-25-158796
- form_type: 8-K
- ticker: WAT
- cik: 0001000697
- company_name: WATERS CORP /DE/
- filed_at: 2025-07-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000697/000119312525158796/0001193125-25-158796-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000697/000119312525158796/d865176d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-158796
- JSON: https://secwatch.observer/filing/0001193125-25-158796.json
- Plain text: https://secwatch.observer/filing/0001193125-25-158796.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.