Bengaluru: Abbott said on Thursday it would buy cancer test maker Exact Sciences in a deal valued at up to $23 billion, including debt, marking one of its largest acquisitions in nearly a decade and its first major push into cancer screening.

The deal will add Exact Sciences' flagship colorectal cancer test Cologuard and early-stage breast cancer test Oncotype DX to Abbott's diagnostics portfolio, helping offset revenue declines from its COVID-19 testing kits.

As part of the agreement, Exact Sciences shareholders will receive $105 apiece in cash, implying a premium of about 21.8% to the stock's last closing price. Exact shares jumped more than 17% to $101.4 in premarket trading, while Abbott was down nearly 2%.

The deal represents an equity value of about $21 billion and assumes absorpt

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