Abbott (ABT) Finalizes $21 Billion Exact Sciences (EXAS) Takeover

Key Highlights

Table of Contents

The $21 billion takeover of Exact Sciences by Abbott closed on March 23, 2026
Stockholders of EXAS were paid $105.00 cash per share
Abbott (ABT) now fully owns Exact Sciences as a subsidiary
Nasdaq delisting occurred with final trading on March 20
The entire board and executive team of Exact Sciences stepped down following merger completion

Investors in Exact Sciences (EXAS) witnessed impressive gains leading up to the acquisition. Shares surged approximately 130% in the twelve months preceding Abbott’s offer — and the transaction has now reached its conclusion.

Exact Sciences Corporation, EXAS

On March 23, 2026, Abbott Laboratories officially closed its purchase of Exact Sciences. The transaction was executed via a merger with Badger Merger Sub I, Inc., an entity fully controlled by Abbott.

Each share of Exact Sciences common stock outstanding was exchanged for $105.00 in cash. Shares held by dissenting stockholders and certain other excluded categories were exempted from this conversion.

The aggregate transaction value reached roughly $21 billion, supported by Abbott’s existing cash reserves combined with borrowed funds. The final amount may increase marginally based on the conversion of outstanding convertible debt instruments.

Prior to the transaction’s completion, Exact Sciences maintained a market capitalization near $20 billion. The organization had recorded a net loss of $1.10 per share during the trailing twelve-month period against revenues totaling $3.25 billion. Wall Street forecasts had anticipated earnings of $1.27 per share for the upcoming fiscal year.

Trading Suspension and Delisting Process

Nasdaq suspended trading of EXAS shares prior to the opening bell on Monday, March 23. The last opportunity for investors to trade Exact Sciences stock on the public market was March 20, 2026.

Exact Sciences has officially informed Nasdaq about the finalized merger and submitted a formal request to delist its common shares. Additionally, the company intends to file documentation to terminate its Securities and Exchange Commission reporting requirements.

Treatment of Employee Equity and Debt Securities

Convertible debt securities previously issued by Exact Sciences will now convert exclusively into cash payments. This conversion follows the predetermined rates combined with the $105.00 per share acquisition price.

All forms of equity compensation under Exact Sciences’ incentive plans — including stock options, restricted stock units, deferred stock units, and performance-based share awards — were addressed through the merger agreement. These awards were either converted into cash payment rights or transferred to Abbott with adjusted provisions.

Upon the merger’s closing, every director serving on the Exact Sciences board and all corporate officers tendered their resignations.

The company’s governing documents, including its certificate of incorporation and corporate bylaws, underwent amendments and restatements as part of the transaction.

Stockholders had previously voted to approve the merger, with 67.56% of votes cast supporting the transaction agreement.

All necessary regulatory clearances had been obtained in advance of the March 23 closing.

Abbott has indicated that the acquisition strengthens its position as a frontrunner in oncology screening and diagnostic testing, enabling the company to serve millions more patients worldwide.

Recent federal legislation has also created a Medicare reimbursement framework for multi-cancer early detection screening tests — a regulatory advancement that Exact Sciences had identified as critical for advancing cancer detection capabilities before the deal was finalized.

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