Key Highlights
- On March 23, 2026, Abbott finalized its $21 billion takeover of Exact Sciences
- Stockholders of EXAS were paid $105.00 cash for each share held
- Abbott now fully owns Exact Sciences as a subsidiary
- Trading of EXAS shares ceased on Nasdaq; final trading occurred on March 20
- The entire Exact Sciences leadership team and board stepped down upon deal completion
Investors in Exact Sciences (EXAS) enjoyed substantial gains before the curtain fell on the company’s independent existence. Shares surged roughly 130% in the twelve months preceding Abbott’s offer — a remarkable finale that concluded with the merger’s completion.
Exact Sciences Corporation, EXAS
On March 23, 2026, Abbott Laboratories sealed its purchase of Exact Sciences. The transaction was executed via a merger involving Badger Merger Sub I, Inc., an entity wholly controlled by Abbott.
Each share of Exact Sciences common stock outstanding was exchanged for $105.00 in cash. Shares subject to dissent rights and certain other excluded shares were exempted from this conversion.
The aggregate transaction value reached roughly $21 billion, financed through Abbott’s available cash reserves and borrowed funds. The final price tag may increase modestly based on the conversion status of certain outstanding convertible debt instruments.
Prior to the transaction’s close, Exact Sciences maintained a market valuation near $20 billion. The diagnostics firm reported a loss of $1.10 per share during the trailing twelve months on total revenues of $3.25 billion. Wall Street forecasts had anticipated earnings of $1.27 per share for the fiscal year ahead.
End of Public Trading
Nasdaq suspended trading in EXAS shares prior to the opening bell on Monday, March 23. The last regular trading session for Exact Sciences stock took place on Friday, March 20, 2026.
Exact Sciences submitted formal notification to Nasdaq regarding the completed merger and requested the removal of its common stock from the exchange. The company intends to file paperwork to terminate its reporting requirements with the Securities and Exchange Commission.
Treatment of Equity Compensation and Debt
Convertible debt securities issued by Exact Sciences are now exclusively convertible into cash payments. These conversions follow the previously established conversion ratios applied to the $105.00 per share merger consideration.
All forms of equity-based compensation under Exact Sciences’ incentive plans — including stock options, restricted stock units, deferred stock units, and performance-based equity awards — were addressed through the merger agreement. These instruments were either converted to cash equivalents or transferred to Abbott with modified terms.
Upon the transaction’s completion, every director 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, were modified and replaced in conjunction with the merger.
Shareholders cast their ballots in favor of the transaction earlier, with 67.56% of votes submitted supporting the merger agreement.
All necessary regulatory clearances had been obtained prior to the March 23 closing.
Abbott highlighted that this acquisition establishes the company as a dominant force in cancer detection and diagnostic testing, significantly broadening patient access to its technologies.
Concurrently, federal lawmakers recently enacted legislation creating a Medicare reimbursement framework for multi-cancer early detection screening tests — a regulatory advancement that Exact Sciences had identified as crucial for advancing cancer screening capabilities before the transaction concluded.
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