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AI brief of an SEC Form 8-K · Becton Dickinson (BDX)

BD completes combination of Biosciences & Diagnostic Solutions unit with Waters

Neutral Impact 4 of 5 m&a Written later

BD completed the spin-off of its Biosciences & Diagnostic Solutions business and its combination with Waters Corporation, and received $4 billion of cash from the transaction. BD plans to use $2 billion for an accelerated share repurchase and $2 billion for debt repayment, subject to market conditions, and BD shareholders will own 39.2% of the combined company on a fully diluted basis.

Key points

  • Transaction closed February 9, 2026; BD shareholders receive about 0.135 shares of Waters common stock per BD share held at the February 5, 2026 record date.
  • BD received $4 billion of cash and BD shareholders own 39.2% of the combined company on a fully diluted basis.
  • The transaction valued the business at $18.8 billion, based on Waters' February 6, 2026 closing price.
  • BD expects to use $2 billion for an accelerated share repurchase and $2 billion for debt repayment; claire M. Fraser left the BD board and joined the Waters board.

The filing

CompanyBecton Dickinson (BDX)
Form8-K, current report
Filed with the SECFeb 9, 2026, 4:18 PM ET
Accession number0001193125-26-042827

Items reported: 1.01 Material Definitive Agreement5.02 Director / Officer Change7.01 Regulation FD Disclosure8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:42 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 09, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.