litigation
confidence high
sentiment neutral
materiality 0.70
Waters supplements merger proxy after two stockholder lawsuits alleging omissions
WATERS CORP /DE/
- Two lawsuits filed in NY Supreme Court (Carroll, Clark) claim proxy omits material information; demand letters also received.
- Waters voluntarily adds multi-year financial projections (2025-2034) for standalone, advocacy, and SpinCo cases.
- Barclays DCF analysis values Waters standalone at $20.9B-$24.7B equity range ($348-$411/share) using 9%-10% discount rate.
- BDS Business enterprise value estimated at $16.8B-$19.7B standalone, $19.6B-$23.1B with synergies.
- Special meeting of Waters stockholders to vote on merger remains January 27, 2026; Board continues recommendation FOR.