Exact Sciences (NASDAQ:EXAS) and Genomic Health (NASDAQ:GHDX) have agreed to merge in a cash-and-stock transaction valued at $2.8B ($72/GHDX common share). The deal should close by year-end.
GHDX shareholders will receive $27.50 in cash plus $44.50 in EXAS common stock for each share owned.
On a pro forma basis, the combined company should generate ~$1.6B in revenues in 2020. Synergies should be ~$25M by the third year after the close.
The companies are currently hosting a conference call discussing the deal.
GHDX is up 2% premarket while EXAS is down 5%, both on modest volume.
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