Exact Sciences Completes $21 Billion Acquisition by Abbott Laboratories, Delists from Nasdaq

summarizeSummary

Exact Sciences Corporation has completed its acquisition by Abbott Laboratories for approximately $21 billion, with shareholders receiving $105.00 per share in cash. The company's common stock has been delisted from Nasdaq, and it will cease to be a public reporting entity.

check_boxKey Events

• Merger Completed

  Exact Sciences Corporation has been acquired by Abbott Laboratories for approximately $21 billion, becoming a direct, wholly-owned subsidiary of Abbott.

• Shareholder Payout

  Each share of Exact Sciences common stock was converted into the right to receive $105.00 in cash, without interest.

• Delisting and Deregistration

  The company's common stock has been delisted from The Nasdaq Stock Market LLC, and Exact Sciences intends to suspend its reporting obligations under the Exchange Act.

• Leadership Changes

  All members of Exact Sciences' Board of Directors and all officers resigned, effective upon the merger's completion.

auto_awesomeAnalysis

This filing marks the definitive completion of Exact Sciences Corporation's acquisition by Abbott Laboratories. For shareholders, this means their common stock has been converted into the right to receive $105.00 per share in cash, realizing their investment at a fixed value. The delisting from Nasdaq and the company's intent to suspend SEC reporting obligations signify its transition from an independent public entity to a wholly-owned subsidiary of Abbott. This event fundamentally alters the investment thesis for Exact Sciences, as it ceases to exist as a standalone publicly traded company. The repayment of its credit facility and the adjustment of convertible notes to cash-only conversion are standard procedures for such a transaction, ensuring a clean integration into Abbott.