Thales Plans Takeover of Exail Technologies After Buying 35.51% Stake
By Adam Whittaker
French aerospace-and-defense group Thales said it agreed to buy a 35.51% stake in Exail Technologies, and plans to launch a mandatory bid to acquire the entirety of the maritime robotics and navigation systems manufacturer at a later date.
Thales said Monday that it has signed an agreement with the Gorge family for their combined stake. The agreement values Exail at 3.9 billion euros ($4.46 billion), including debt, Thales said.
It will pay 134 euros a share--a 44% premium to Exail's undisturbed share price on June 25, which was the date before rumors of a potential third-party bid emerged.
Thales later plans to launch a mandatory tender offer for the remainder of the company at the same price.
It expects to close the acquisition of the Gorge family's stake by the third quarter of 2027. It will then file a mandatory tender offer for 100% of Exail's shares and bonds, with the closing of the deal expected at the beginning of 2028 at the latest, Thales said.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
July 06, 2026 01:55 ET (05:55 GMT)
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