NEUILLY-SUR-SEINE (dpa-AFX) - Thales (THLEF.PK), a French aerospace and defence corporation, on Monday said it has agreed to acquire the Gorgé family's 35.51% stake in defense technology company Exail Technologies for €134 per share and plans to acquire the remaining shares through a mandatory tender offer.
The offer values Exail at an enterprise value of approximately €3.9 billion and represents a 44% premium to the company's unaffected share price on June 25, 2026.
The acquisition of the Gorgé family's stake is expected to close by the third quarter of 2027, subject to regulatory and antitrust approvals. Following the completion of that transaction, Thales intends to launch a mandatory tender offer for all remaining Exail shares and ODIRNANE bonds, with completion expected by early 2028 at the latest.
Thales said acquiring Exail, which had reported €479 million in revenue in 2025, would bolster its capabilities in underwater warfare, maritime drones, inertial navigation and quantum sensors. The company expects the deal to be accretive to adjusted earnings per share in the first year after closing.
Thales estimates the combination could generate about €500 million of additional revenue over the next 10 years and more than €60 million of additional adjusted EBIT by 2030, with total adjusted EBIT synergies expected to reach €90 million by 2032.
Exail's board unanimously welcomed the proposed transaction.
Patrice Caine, Chairman and Chief Executive Officer, Thales, said, 'With this acquisition, Thales and Exail plan to join forces. Together, thanks to our talents and capabilities, we will strengthen our high-technology industrial base and innovation for our world-class defence and civil customers, while reinforcing Europe's technological sovereignty.'
Thales shares rose 7.42% to $276.99 in U.S. OTC trading on Thursday. Exail shares closed up 0.99% at €122.50 on Friday.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
