Key Highlights
- The $21 billion takeover of Exact Sciences by Abbott closed on March 23, 2026
- Shareholders of EXAS were paid $105.00 in cash for each share held
- Abbott now owns Exact Sciences as a fully integrated subsidiary
- Trading of EXAS ended on Nasdaq, with March 20 marking the final trading session
- The entire Exact Sciences leadership team and board stepped down upon merger completion
Investors in Exact Sciences (EXAS) enjoyed remarkable returns before the acquisition. The company’s shares surged approximately 130% in the twelve months leading up to Abbott’s offer — a profitable finale for long-term holders.
Exact Sciences Corporation, EXAS
On March 23, 2026, Abbott Laboratories successfully concluded its purchase of Exact Sciences. The transaction was executed via a merger involving Badger Merger Sub I, Inc., an entity fully controlled by Abbott.
Under the terms, each share of Exact Sciences common stock outstanding was exchanged for $105.00 cash. Shares subject to dissent rights and certain other excluded shares were exempted from this conversion.
The aggregate purchase price reached roughly $21 billion, financed through Abbott’s available cash reserves combined with borrowed funds. The final amount may increase modestly based on the settlement of convertible debt instruments.
Prior to the transaction’s completion, Exact Sciences held a market valuation near $20 billion. Financial performance showed a net loss of $1.10 per share over 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.
End of Public Trading
Nasdaq suspended trading in EXAS shares prior to Monday morning’s opening bell on March 23. The last opportunity for public investors to trade Exact Sciences stock occurred on March 20, 2026.
Exact Sciences submitted official notification to Nasdaq regarding the concluded merger and has requested removal of its common stock from the exchange. Additionally, the company intends to terminate its public reporting requirements with the Securities and Exchange Commission.
Treatment of Equity Compensation and Debt
Convertible debt securities previously issued by Exact Sciences will now convert exclusively into cash payments. These conversions follow the predetermined conversion formulas using the $105.00 per share transaction price.
All forms of employee equity awards — including stock options, restricted stock units, deferred stock units, and performance-based awards — were addressed through the merger agreement. These instruments were either liquidated for cash consideration or transferred to Abbott with adjusted terms.
Upon finalizing the acquisition, every director serving on the Exact Sciences board and all executive officers tendered their resignations.
The corporate governance documents, including the certificate of incorporation and bylaws, were comprehensively amended and restated as part of the transaction framework.
Shareholder approval for the merger was secured with 67.56% of the votes cast supporting the transaction.
All necessary approvals from regulatory agencies were obtained in advance of the March 23 closing.
Abbott emphasized that this strategic acquisition establishes the company as a dominant force in oncology screening and diagnostic services, enabling it to serve millions more patients globally.
Recent federal legislation has also created a Medicare reimbursement framework for multi-cancer early detection screening technologies — a breakthrough that Exact Sciences had identified as critical for advancing early cancer detection capabilities prior to finalizing the deal.
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