Health care stocks were declining premarket Monday, with the Health Care Select Sector SPDR Fund (XLV) down 0.3% and the iShares Biotechnology ETF (IBB) 0.2% lower recently.
BD's (BDX) biosciences and diagnostic solutions business has agreed to combine with Waters (WAT), the companies said. The deal is structured as a Reverse Morris Trust transaction valued at about $17.5 billion. Shares of Waters were down more than 11% pre-bell.
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