Exact Sciences Completes $21 Billion Acquisition by Abbott Laboratories, Delists from Nasdaq
EXAS has more than doubled off its 52-week low of $38.812 on elevated volume (8.2× avg).
Summary
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.
Key Events · M&A and Partnerships · EXAS
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Merger Completed
Exact Sciences Corporation has been acquired by Abbott Laboratories for approximately $21 billion, becoming a direct, wholly-owned subsidiary of Abbott.
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Shareholder Payout
Each share of Exact Sciences common stock was converted into the right to receive $105.00 in cash, without interest.
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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.
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Leadership Changes
All members of Exact Sciences' Board of Directors and all officers resigned, effective upon the merger's completion.
Analysis · EXAS · Industrial Applications And Services
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.
At the time of this filing, EXAS was trading at $104.93 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $20B. The 52-week trading range was $38.81 to $104.98. This filing was assessed with positive market sentiment and an importance score of 10 out of 10.