By Alex Chou, Samantha Lee, Charlotte Wu, Kevin Chuang, and Sophia Fang (National Taiwan University) Photo: Markus Frieauff (Unsplash) Overview of the deal Acquirer: Abbott Laboratories (NYSE: ABT) Target: Exact Sciences Corporation (NASDAQ: EXAS) Implied Equity Value: USD ~$21 billion Total Transaction Size: USD ~$23 billion Announcement date: November 20, 2025 Closing date: March 23, 2026 Target advisor: Centerview Partners LLC, XMS Capital Partners LLC (Financial); Skadden

By Blanche Delaunay, Huseyn Badalbayli, Kristiyan Nedelchev, Martin Tropchev, and Robin van der Werf (Rotterdam School of Management); Gilles Michaud and Marc Bellon (HEC Paris) Photo: Louis Reed (Unsplash) Overview of the deal Acquirer: Gilead Sciences, Inc. (Nasdaq: GILD) Target: Arcellx, Inc. (Nasdaq: ACLX) Implied Equity Value: $7.8 billion ($115 per share in cash + $5 CVR per share) Total Transaction Size: $7.8 billion Closed Date: April 28, 2026 Target Advisor: Centerv

By Aikie Davoren, Charlie Mercuri and Daniel Blitenhall (University of Melbourne); Nikhil Freiherr Raitz Von Frentz, Max Fischer, Daniel Barker and Moritz Ibe (University of St Andrews) Photo: Suryadhityas (Unsplash) Summary of IPO Fluorescent-guided surgery (FGS) has been gaining momentum as hospitals look to improve surgical precision, reduce complications, and shorten recovery times. Within this niche, UltraGreen has built a strong position selling the dye used in these su