Why Waters Corporation (WAT) Stock Is Down Today
Shares of scientific instruments company Waters Corporation (NYSE:WAT) fell 12.8% in the morning session after the company announced a definitive agreement to merge with the Biosciences & Diagnostic Solutions business of Becton, Dickinson and Company (BDX) in a deal valued at approximately $17.5 billion. The transaction was structured as a Reverse Morris Trust, a tax-efficient…