{"schema_version":"secwatch.filing_event.v1","accession":"0001781755-25-000114","form_type":"8-K","ticker":"BWIN","cik":"0001781755","company_name":"Baldwin Insurance Group, Inc.","filed_at":"2025-12-02T23:59:59+00:00","discovered_at":"2026-05-14T18:02:40.435733+00:00","generated_at":"2026-05-16T15:45:48.218304+00:00","sec_items":["1.01","3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Baldwin Group to merge with CAC Group for $1.026B upfront; EPS accretion over 20%","bullets":["Total upfront consideration of $1.026B: $438M cash plus 23.2M shares valued at $589M (30-day VWAP); implied multiple 7.9x 2025E PF Adj. EBITDA.","Additional contingent earnout of up to $250M and $70M deferred payment at 4 years post-close.","Transaction expected to be accretive to 2025 Adjusted EPS by over 20% with full run-rate synergies and net leverage neutral at close.","Combined entity projected 2026 gross revenue >$2B and Adj. EBITDA >$470M; close expected Q1 2026 subject to regulatory approval.","Baldwin becomes largest majority colleague-owned publicly-traded insurance broker; CAC to get board seat via voting agreement."],"urls":{"canonical":"https://secwatch.observer/filing/0001781755-25-000114","json":"https://secwatch.observer/filing/0001781755-25-000114.json","markdown":"https://secwatch.observer/filing/0001781755-25-000114.md","text":"https://secwatch.observer/filing/0001781755-25-000114.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1781755/000178175525000114/0001781755-25-000114-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1781755/000178175525000114/bwin-20251202.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T15:45:48.218304+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"}