{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-158797","form_type":"8-K","ticker":"BDX","cik":"0000010795","company_name":"BECTON DICKINSON & CO","filed_at":"2025-07-14T23:59:59+00:00","discovered_at":"2026-05-14T18:02:43.282948+00:00","generated_at":"2026-05-18T06:36:28.381353+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"BD to spin off Biosciences/Diagnostics, merge with Waters for $4B cash plus 39.2% stake","bullets":["BD receives $4B cash from SpinCo; BD shareholders get 39.2% of Waters post-merger; Waters holders get 60.8%.","Transaction structured as Reverse Morris Trust: spin-off of SpinCo then merger with Waters subsidiary.","Waters to pay $733M termination fee if deal falls under certain conditions; closing targeted by July 13, 2026.","Conditions include HSR clearance, IRS private letter ruling, Waters shareholder approval, and financing completion.","Post-closing Waters board to have 11-12 members; BD to designate 1-2 directors, Waters designates 10."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-158797","json":"https://secwatch.observer/filing/0001193125-25-158797.json","markdown":"https://secwatch.observer/filing/0001193125-25-158797.md","text":"https://secwatch.observer/filing/0001193125-25-158797.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/10795/000119312525158797/0001193125-25-158797-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/10795/000119312525158797/d822749d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-18T06:36:28.381353+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}