Waters Corporation announced a deal to acquire Becton Dickinson’s Biosciences & Diagnostic Solutions business for $17.5 billion, boosting its market reach. Shareholders will hold a 60.8% stake in the combined firm. The acquisition is expected to double Waters’ addressable market and recurring revenue. The deal, structured as a Reverse Morris Trust transaction, is set to be completed in the first quarter of next year. Waters shares fell over 12% following the announcement. Becton Dickinson shares also dropped by about 2%. The merger is seen as a strategic fit that will deliver value to shareholders.

Source: Investopedia

Read more at Yahoo Finance: Analytics Equipment Maker Waters Buys Becton Dickinson Unit in a $17.5B Deal