Abbott finalizes $21B Exact Sciences takeover in landmark biotech deal
Abbott Laboratories has completed its $21 billion takeover of Exact Sciences, making the biotech firm a fully owned subsidiary. The deal closed on March 23, 2026, following the suspension of EXAS shares on Nasdaq three days earlier. Shareholders received $105.00 in cash for each share held.
Exact Sciences had a market value of around $19.84 billion before the acquisition. Abbott's offer of $21 billion marks one of the largest biotech deals in recent years, with no comparable transactions of this scale in the past five years. Companies like Guardant Health and BeiGene, valued at €9.75 billion and $24.20 billion respectively, remain independent.
Trading of EXAS shares halted on March 20, 2026, before Nasdaq officially delisted the stock on March 23. The merger also triggered the conversion of Exact Sciences' convertible debt into cash payments. Upon closing, the entire board of directors and all corporate officers resigned, ending their roles with the company. Exact Sciences had formally requested the delisting of its common shares from Nasdaq. The final cash payout to stockholders and the conversion of debt securities completed the financial aspects of the deal.
The acquisition removes Exact Sciences as a standalone company, folding it into Abbott's operations. With no leadership team remaining from the original firm, Abbott now controls all aspects of the business. The $21 billion transaction stands as a rare high-value deal in the biotech sector.
