Waters Corp Supplements Merger Proxy Statement with Key Financial Details to Address Shareholder Lawsuits

summarizeSummary

Waters Corporation is supplementing its merger proxy statement with additional financial projections and valuation details to address shareholder lawsuits alleging material omissions, aiming to facilitate the upcoming merger vote.

check_boxKey Events

• Shareholder Lawsuits Prompt Disclosure Update

  Two lawsuits and demand letters were filed by purported stockholders alleging that the original Proxy Statement/Prospectus for the BD Biosciences merger omitted certain material information.

• Voluntary Supplementation to Avoid Delays

  Waters is voluntarily providing additional disclosures to moot these claims, minimize the risk of delay to the merger, and avoid the costs and uncertainties of defending such lawsuits.

• Enhanced Financial Projections Provided

  The filing includes new unlevered free cash flow projections for Waters' standalone baseline and advocacy cases, as well as for the SpinCo business, extending through 2034.

• Detailed Valuation Methodology Clarified

  Supplemental disclosures clarify the calculation of the weighted average cost of capital (WACC) in discounted cash flow analyses and update tables for selected comparable company and precedent transactions analyses.

auto_awesomeAnalysis

Waters Corporation has voluntarily supplemented its definitive proxy statement/prospectus related to the proposed Reverse Morris Trust transaction with Becton, Dickinson and Company's Biosciences and Diagnostic Solutions business. This action was taken in response to shareholder lawsuits and demand letters alleging material omissions in the original filing. The supplemental disclosures provide crucial additional financial projections, detailed valuation methodologies, and updated comparable company analyses. This move aims to address shareholder concerns, mitigate legal risks, and ensure the smooth consummation of the significant merger by providing investors with more comprehensive information for their voting decision.