Key Highlights
- On March 23, 2026, Abbott finalized its $21 billion purchase of Exact Sciences
- Shareholders of EXAS were paid $105.00 in cash for each share
- Abbott (ABT) now fully owns Exact Sciences as a subsidiary
- Trading of EXAS ceased on Nasdaq, with March 20 marking the final trading session
- The entire board of directors and executive leadership of Exact Sciences stepped down upon completion
Investors in Exact Sciences (EXAS) experienced impressive gains, with shares surging almost 130% in the twelve months leading up to Abbott’s acquisition offer — a journey that has now officially reached its conclusion.
Exact Sciences Corporation, EXAS
Abbott Laboratories wrapped up its purchase of Exact Sciences on March 23, 2026. The transaction was executed via a merger involving Badger Merger Sub I, Inc., an entity fully owned by Abbott.
Each share of Exact Sciences common stock in circulation was exchanged for $105.00 in cash. Shares subject to dissent rights and certain other excluded categories were not included in this conversion.
The acquisition carried a total price tag of roughly $21 billion, financed through a combination of existing cash reserves and borrowed capital. The final cost may increase modestly based on the conversion of outstanding convertible debt instruments.
Prior to the transaction’s completion, Exact Sciences held a market valuation near $20 billion. The firm had recorded a loss of $1.10 per share during the trailing twelve months against revenues totaling $3.25 billion. Wall Street estimates had anticipated earnings of $1.27 per share for the upcoming fiscal period.
Stock Delisting and Trading Suspension
Nasdaq halted all trading activity for EXAS before markets opened on Monday, March 23. The last opportunity for public trading of Exact Sciences shares occurred on March 20, 2026.
Exact Sciences submitted official notification to Nasdaq regarding the closed transaction and formally requested removal of its common stock from the exchange. Additionally, the company intends to file documentation to terminate its reporting requirements with the Securities and Exchange Commission.
Treatment of Employee Equity and Convertible Debt
Convertible debt securities previously issued by Exact Sciences are now convertible exclusively into cash payments. This conversion follows the established conversion ratios and the $105.00 per share merger consideration.
All forms of equity compensation under Exact Sciences’ incentive programs — including stock options, restricted stock units, deferred stock units, and performance-based share awards — were addressed through the merger process. These instruments were either liquidated for cash or transferred to Abbott with modified terms.
Upon the transaction’s closure, 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 complete restatements as part of the deal structure.
Stockholders had previously voted to approve the merger, with 67.56% of votes cast supporting the transaction.
All necessary regulatory clearances were obtained prior to the March 23 completion date.
Abbott indicated that this strategic acquisition establishes the company as a dominant force in cancer screening and diagnostic services, extending its capabilities to serve millions of additional patients worldwide.
Recent federal legislation also created a Medicare reimbursement framework for multi-cancer early detection technologies — a regulatory advancement that Exact Sciences had identified as crucial for advancing cancer detection capabilities before the transaction concluded.
