Exact Sciences to be Acquired by Abbott Laboratories in $21 Billion Deal
Abbott Laboratories announced a definitive agreement to acquire Exact Sciences (NASDAQ:EXAS) for $105 per common share, valuing the cancer diagnostics company at approximately $21 billion. The transaction, which includes the assumption of $1.8 billion in net debt, has an enterprise value of about $23 billion and is expected to close in the second quarter of 2026.
In response to the news, Guggenheim downgraded Exact Sciences from a Buy to a Neutral rating. Shares of EXAS traded at $101.29, a significant increase of 17.53%. The stock reached a new yearly high of $101.87 during the session, with its lowest price over the past year being $38.81.
Exact Sciences projects annual revenue to exceed $3 billion for the current year, with anticipated organic growth in the high-teens. Abbott expects the acquisition to be immediately accretive to its revenue growth and gross margin.
Abbott CEO Robert Ford praised Exact Sciences for its innovation and strong brand. The acquisition positions Abbott to pursue a leadership role in the $60 billion U.S. cancer screening and precision oncology diagnostics market.
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