Key Highlights
- The $21 billion merger between Abbott and Exact Sciences reached completion on March 23, 2026
- Shareholders of EXAS obtained $105.00 cash payment for each share held
- Exact Sciences transitioned into a fully controlled subsidiary under Abbott (ABT)
- Nasdaq delisting of EXAS occurred with March 20 marking the final trading session
- The entire board of directors and executive team at Exact Sciences stepped down upon deal closure
Investors holding Exact Sciences (EXAS) shares witnessed remarkable gains. The equity surged approximately 130% throughout the preceding year before Abbott’s acquisition proposal materialized — and that journey has now reached its conclusion.
Exact Sciences Corporation, EXAS
On March 23, 2026, Abbott Laboratories successfully concluded its purchase of Exact Sciences. The transaction was executed via a merger arrangement with Badger Merger Sub I, Inc., an entity entirely controlled by Abbott.
Each share of Exact Sciences common stock in circulation was transformed into an entitlement to receive $105.00 in cash compensation. Shares subject to dissent rights and specific excluded categories remained outside this conversion framework.
The aggregate transaction value reached approximately $21 billion, with financing sourced through available cash reserves and borrowed capital. This amount may experience modest adjustments based on the settlement of outstanding convertible debt instruments.
Prior to the transaction’s finalization, Exact Sciences maintained a market capitalization hovering near $20 billion. The organization had reported a deficit of $1.10 per share across the trailing twelve-month period against revenues totaling $3.25 billion. Financial experts had anticipated earnings of $1.27 per share for the upcoming fiscal period.
Trading Suspension and Exchange Removal
Nasdaq suspended EXAS trading activity prior to Monday morning’s opening bell on March 23. The last opportunity for standard trading in Exact Sciences shares occurred on March 20, 2026.
Exact Sciences submitted official notification to Nasdaq regarding the concluded merger and formally submitted its request for common stock delisting. The organization additionally intends to file documentation terminating its Securities and Exchange Commission reporting requirements.
Treatment of Employee Compensation and Convertible Instruments
Convertible debt securities previously issued by Exact Sciences will henceforth be convertible exclusively into cash payments. The conversion calculation utilizes established conversion ratios and the $105.00 per share transaction price.
All equity-based compensation awards, including stock options, restricted stock units, deferred stock units, and performance share units governed by Exact Sciences’ equity incentive programs, received specific treatment under the merger terms. These instruments were either exchanged for cash payment rights or transferred to Abbott with modified provisions.
Upon the merger’s completion, the entire board of directors membership and all corporate officers at Exact Sciences tendered their resignations.
The company’s governing documents, including its certificate of incorporation and corporate bylaws, underwent amendment and restatement as part of the transaction structure.
Stockholders had previously voted to approve the combination, with 67.56% of eligible voting power supporting the merger agreement.
All necessary regulatory clearances had been obtained in advance of the March 23 closing timeline.
Abbott declared that the acquisition strengthens its position as a frontrunner in cancer detection and diagnostic testing, extending its services to millions of additional patients worldwide.
Recent federal legislation has also established a reimbursement framework under Medicare for multi-cancer early detection testing platforms — a regulatory advancement that Exact Sciences had identified as a critical development in oncology screening prior to the deal’s consummation.
