Key Takeaways
- The $21 billion acquisition of Exact Sciences by Abbott closed on March 23, 2026
- Cash payment of $105.00 per share went to EXAS shareholders
- Exact Sciences operates as a wholly owned Abbott (ABT) subsidiary
- Nasdaq delisting occurred after March 20 marked the final trading session
- The entire Exact Sciences board and executive team stepped down upon deal completion
Exact Sciences (EXAS) investors enjoyed remarkable returns leading up to the acquisition. Share prices surged approximately 130% throughout the previous year before Abbott presented its offer — marking the conclusion of an impressive chapter.
Exact Sciences Corporation, EXAS
Abbott Laboratories finalized the Exact Sciences purchase on March 23, 2026. The transaction concluded via a merger structure involving Badger Merger Sub I, Inc., an Abbott-controlled entity.
Shareholders holding Exact Sciences common stock received $105.00 in cash for each share. Dissenting shareholders and specific excluded holdings fell outside the conversion arrangement.
The transaction’s aggregate value reached approximately $21 billion, financed through available cash reserves combined with debt instruments. Final figures may adjust modestly based on outstanding convertible note conversions.
Ahead of the closing, Exact Sciences maintained a market capitalization near $20 billion. Financial records showed a loss of $1.10 per share during the trailing twelve months against revenue totaling $3.25 billion. Wall Street forecasts had anticipated earnings of $1.27 per share for the upcoming fiscal period.
Stock Delisting and Market Suspension
Nasdaq suspended EXAS trading ahead of Monday morning opening on March 23. The last opportunity for public trading occurred on March 20, 2026.
Exact Sciences submitted notification to Nasdaq regarding the completed acquisition and formally requested removal from the exchange listing. The organization intends to file documentation terminating its Securities and Exchange Commission reporting requirements.
Treatment of Employee Equity and Debt Instruments
Convertible notes previously issued by Exact Sciences now convert exclusively into cash. The conversion follows established rates using the $105.00 per share transaction price.
Employee compensation instruments including stock options, restricted stock units, deferred stock units, and performance share awards received treatment under the merger terms. These awards either converted to cash entitlements or transferred to Abbott with modified conditions.
Upon transaction completion, every director serving on the Exact Sciences board alongside company officers submitted resignations from their respective roles.
The corporate governing documents, including the certificate of incorporation and bylaws, underwent amendments and complete restatement as part of the transaction structure.
Shareholder voting resulted in 67.56% approval among eligible votes supporting the merger agreement.
All necessary regulatory clearances were obtained prior to the March 23 closing timeline.
Abbott characterized the acquisition as positioning the company at the forefront of cancer screening and diagnostic capabilities, extending patient access to millions of additional individuals.
Recent federal legislation established a Medicare reimbursement framework for multi-cancer early detection testing platforms — a regulatory advancement that Exact Sciences had identified as crucial for advancing cancer detection methods before the transaction concluded.
