Solventum cuts Thermo Fisher deal cash price to $4.00 billion, drops water unit
On June 25, 2025, Solventum and Thermo Fisher signed an amended agreement that removes Solventum's drinking water filtration business from the planned sale and lowers the cash payment at closing from about $4.10 billion to about $4.00 billion. Solventum says the change could simplify the deal and speed up its closing, which it still expects by the end of 2025, but it will also reduce previously projected gross and operating margin improvements.
- Cash consideration at closing falls from about $4.10 billion to about $4.00 billion; net proceeds are still intended mainly to pay down debt.
- The Water Business is excluded, and Thermo Fisher may receive up to $75 million from Solventum on a sale of that business or after a 3-year period.
- Previously projected gross margin (200 basis points) and operating margin (100 basis points) improvements will be reduced; updated estimates will come on the second-quarter earnings call.