Waters Corporation Announces Reverse Morris Trust Transaction with Becton, Dickinson and Company

Details

The transaction involves BD transferring its Biosciences and Diagnostic Solutions business to SpinCo, a spin-off from BD. Following the spin-off, SpinCo will merge with Merger Sub, a Waters subsidiary, with SpinCo as the surviving entity. Upon completion of the Merger, SpinCo will become a wholly-owned subsidiary of Waters. The transaction is expected to result in Waters shareholders owning approximately 60.8% and former SpinCo shareholders owning approximately 39.2% of the outstanding shares of Waters Common Stock. The Boards of Directors of both Waters and BD have unanimously approved the transaction.

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About Waters Corporation

Waters Corporation is a leading entity in the field of analytical instruments and software. It primarily focuses on providing laboratory solutions for a variety of sectors, including pharmaceuticals, healthcare, food and beverage, and chemical analysis. The company's offerings include high-performance liquid chromatography, mass spectrometry systems, and various supporting technologies used for advanced research in life sciences. Waters Corporation is pivotal in enhancing laboratory productivity, offering cutting-edge research tools that assist in drug development, quality control, and environmental testing. Operating globally, it serves a wide array of clients, including academic institutions, government agencies, and private industry players. With its commitment to innovation and precision, Waters Corporation plays a crucial role in advancing scientific and technological progress in multiple critical industries worldwide.