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Waters Issues Supplemental Disclosures to Keep Merger on Track

Story Highlights
  • Waters is pursuing a Reverse Morris Trust deal to acquire BD’s Biosciences and Diagnostic Solutions unit through a spin-off and merger structure.
  • Facing shareholder disclosure lawsuits over its merger proxy, Waters denies any deficiency but has added extensive supplemental financial and process details to avoid delays.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Waters Issues Supplemental Disclosures to Keep Merger on Track

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Waters ( (WAT) ) just unveiled an update.

On July 13, 2025, Waters Corporation signed definitive agreements with Becton, Dickinson and Company to execute a Reverse Morris Trust transaction under which BD will spin off its Biosciences and Diagnostic Solutions business into Augusta SpinCo Corporation and, following a pro rata distribution of SpinCo shares to BD shareholders, SpinCo will merge with a Waters subsidiary to become a wholly owned unit of Waters in exchange for Waters stock. In the run-up to a January 27, 2026 special meeting of Waters shareholders and after the SEC declared Waters’ Form S‑4 registration statement effective on December 23, 2025, Waters faced two shareholder lawsuits and several demand letters alleging that its proxy statement/prospectus omitted material information; while maintaining that its disclosures fully comply with the law and denying any wrongdoing, the company has issued detailed supplemental disclosures, including additional background on transaction negotiations, financial projections and valuation analyses, in an effort to moot the claims, avoid litigation-related delays and keep the planned merger on track.

The most recent analyst rating on (WAT) stock is a Buy with a $456.00 price target. To see the full list of analyst forecasts on Waters stock, see the WAT Stock Forecast page.

Spark’s Take on WAT Stock

According to Spark, TipRanks’ AI Analyst, WAT is a Outperform.

The score is driven by solid underlying financial performance and constructive technical momentum, reinforced by a strong earnings update with raised guidance. These positives are partly offset by premium valuation and some cash-flow/segment softness and external headwinds (tariffs/currency).

To see Spark’s full report on WAT stock, click here.

More about Waters

Waters Corporation is a Delaware-based company operating in the scientific instruments and analytical technologies industry, providing chromatography, mass spectrometry and related laboratory solutions, with a market focus on life sciences, diagnostics and industrial laboratories worldwide.

Average Trading Volume: 565,334

Technical Sentiment Signal: Strong Buy

Current Market Cap: $23.41B

Find detailed analytics on WAT stock on TipRanks’ Stock Analysis page.

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