EXHIBIT 5.5
Published on August 13, 2021
Exhibit 5.5
August 13, 2021
Becton, Dickinson and Company
1 Becton Drive
Franklin Lakes, NJ 07417-1880
RE:
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Becton, Dickinson and Company
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Registration Statement on Form S-3
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Ladies and Gentlemen:
We have acted as special United States counsel to Becton, Dickinson and Company, a New Jersey corporation (the “Company”), in connection with the public offering of €400,000,000 aggregate principal amount of the Company’s 0.000% Notes due 2023 and €500,000,000 aggregate principal amount of
the Company’s 0.034% Notes due 2025 (collectively referred to herein as the “Notes”) to be issued under the Indenture, dated as of March 1, 1997 (the “Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A. (successor to JP Morgan Chase Bank), as trustee (the “Trustee”).
This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Securities Act of 1933
(the “Securities Act”).
In rendering the opinion stated herein, we have examined and relied upon the following:
(a) the registration statement
on Form S-3 (File No. 333-255829) of the Company relating to the debt securities and other securities of the Company filed with the Securities and Exchange Commission (the “Commission”) on May 6, 2021 under the Securities Act allowing for delayed offerings pursuant to Rule 415 of the General Rules and Regulations under the Securities Act (the “Rules and Regulations”), including the information deemed to be a part of the registration statement pursuant to Rule 430B of the Rules and Regulations (the “Registration Statement”);
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August 13, 2021
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(b) the prospectus, dated May 6,
2021 (the “Base Prospectus”), which forms a part of and is included in the Registration Statement;
(c) the preliminary prospectus
supplement, dated August 10, 2021 (together with the Base Prospectus, the “Preliminary Prospectus”), relating to the offering of the Notes, in the form filed
with the Commission pursuant to Rule 424(b) of the Rules and Regulations;
(d) the prospectus supplement,
dated August 10, 2021 (together with the Base Prospectus, the “Prospectus”), relating to the offering of the Notes, in the form filed with the Commission
pursuant to Rule 424(b) of the Rules and Regulations;
(e) an executed copy of the
Underwriting Agreement, dated August 10, 2021 (the “Underwriting Agreement”), among the Company, Barclays Bank PLC, BNP Paribas, Citigroup Global Markets
Limited and the other underwriters named on Schedule I thereto (the “Underwriters”), relating to the sale by the Company to the Underwriters of the Notes;
(f) an executed copy of the
Indenture; and
(g) the global certificates
evidencing the Notes executed by the Company and registered in the name of The Bank of New York Depository (Nominees) Limited (the “Note Certificates”),
delivered by the Company to the Trustee for authentication and delivery.
We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such records of the Company and such
agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Company and others, and such other documents as we have deemed necessary or appropriate as a basis for the opinion stated below.
In our examination, we have assumed the genuineness of all signatures, including electronic signatures, the legal capacity and competency
of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic, certified or photocopied copies, and the authenticity of the
originals of such copies. As to any facts relevant to the opinion stated herein that we did not independently establish or verify, we have relied upon statements and representations of officers and other representatives of the Company and others and
of public officials, including the factual representations and warranties contained in the Transaction Documents.
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We do not express any opinion with respect to the laws of any jurisdiction other than the laws of the State of New York (the “Opined on Law”).
As used herein, “Transaction Documents” means
the Underwriting Agreement, the Indenture and the Note Certificates.
Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that when the Note
Certificates are duly authenticated by the Trustee and issued and delivered by the Company against payment therefor in accordance with the terms of the Underwriting Agreement and the Indenture, the Note Certificates will constitute valid and binding
obligations of the Company, enforceable against the Company in accordance with their terms under the laws of the State of New York.
The opinion stated herein are subject to the following qualifications:
(a) we do not express any
opinion with respect to the effect on the opinions stated herein of any bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer, preference and other similar laws or governmental orders affecting creditors’ rights generally, and the
opinions stated herein are limited by such laws and orders and by general principles of equity (regardless of whether enforcement is sought in equity or at law);
(b) we do not express any
opinion with respect to any law, rule or regulation that is applicable to any party to any of the Transaction Documents or the transactions contemplated thereby solely because such law, rule or regulation is part of a regulatory regime applicable
to any such party or any of its affiliates as a result of the specific assets or business operations of such party or such affiliates;
(c) except to the extent
expressly stated in the opinion contained herein, we have assumed that each of the Transaction Documents constitutes the valid and binding obligation of each party to such Transaction Document, enforceable against such party in accordance with its
terms;
(d) we do not express any
opinion with respect to the enforceability of any provision contained in any Transaction Document relating to any indemnification, contribution, non-reliance, exculpation, release, limitation or exclusion of remedies, waiver or other provisions
having similar effect that may be contrary to public policy or violative of federal or state securities laws, rules or regulations, or to the extent any such provision purports to, or has the effect of waiving or altering any statute of
limitations;
(e) we call to your attention
that irrespective of the agreement of the parties to any Transaction Document, a court may decline to hear a case on grounds of forum non conveniens or other doctrine limiting the availability of such court as a forum for resolution of disputes; in
addition, we call to your attention that we do not express any opinion with respect to the subject matter jurisdiction of the federal courts of the United States of America in any action arising out of or relating to any Transaction Document;
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(f) we do not express any
opinion with respect to the enforceability of any provision contained in any Transaction Document providing for indemnity by any party thereto against any loss in obtaining the currency due to such party under any Transaction Document from a court
judgment in another currency;
(g) we have assumed, with your
consent, that the choice of the Euro as the currency in which the Notes are denominated does not contravene any exchange control or other laws of the European Union, and further we call to your attention that a court may not award a judgment in any
currency other than U.S. dollars; and
(h) to the extent that any
opinion relates to the enforceability of the choice of New York law and choice of New York forum provisions contained in any Transaction Document, the opinion stated herein is subject to the qualification that such enforceability may be subject to,
in each case, (i) the exceptions and limitations in New York General Obligations Law sections 5-1401 and 5-1402 and (ii) principles of comity and constitutionality.
In addition, in rendering the foregoing opinion we have assumed that:
(a) the Company (i) was duly
incorporated and was validly existing and in good standing, (ii) had requisite legal status and legal capacity under the laws of the jurisdiction of its organization and (iii) has complied and will comply with all aspects of the laws of the
jurisdiction of its organization in connection with the transactions contemplated by, and the performance of its obligations
under, the Transaction Documents;
(b) the Company had the
corporate power and authority to execute, deliver and perform all its obligations under each of the Transaction Documents;
(c) each of the Transaction
Documents had been duly authorized, executed and delivered by all requisite corporate action on the part of the Company under New Jersey law;
(d) neither the execution and
delivery by the Company of the Transaction Documents nor the performance by the Company of its obligations thereunder, including the issuance and sale of the Notes: (i) conflicted or will conflict with the certificate of incorporation of the
Company, (ii) constituted or will constitute a violation of, or a default under, any lease, indenture, agreement or other instrument to which the Company or its property is subject (except that we do not make the assumption set forth in this clause
(ii) with respect to those agreements or instruments expressed to be governed by the laws of the State of New York which are listed in Part II of the Registration Statement or the Company’s Annual Report on Form 10-K for the fiscal year ended
September 30, 2020), (iii) contravened or will contravene any order or decree of any governmental authority to which the Company or its property is subject or (iv) violated or will violate any law, rule or regulation to which the Company or its
property is subject (except that we do not make the assumption set forth in this clause (iv) with respect to the Opined-on Law); and
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(e) neither the execution and
delivery by the Company of the Transaction Documents nor the performance by the Company of its obligations thereunder, including the issuance and sale of the Notes, required or will require the consent, approval, licensing or authorization of, or
any filing, recording or registration with, any governmental authority under any law, rule or regulation of any jurisdiction.
We hereby consent to the reference to our firm under the heading “Legal Matters” in the Preliminary Prospectus and the Prospectus. In
giving this consent, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations. We also hereby consent to the filing of this opinion with the
Commission as an exhibit to the Company’s Current Report on Form 8-K being filed on the date hereof and incorporated by reference into the Registration Statement. This opinion is expressed as of the date hereof unless otherwise expressly stated, and
we disclaim any undertaking to advise you of any subsequent changes in the facts stated or assumed herein or of any subsequent changes in applicable laws.
Very truly yours,
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/s/ Skadden, Arps, Slate, Meagher & Flom LLP |