French defence firm Thales is acquiring a manufacturer of marine robotics for nearly 4 billion euros
This is according to Bloomberg.
In the first stage, Thales will acquire 35.51 per cent of the shares from the Gorzhe family at a price of 134 euros per share, which is 44 per cent higher than the market value of the shares as at 25 June, after which it will launch a mandatory tender offer for the remaining 100 per cent of the shares.
Following the announcement, Exail’s shares in Paris rose by 4.2% to €126, with their total increase since the start of the year exceeding 50%. Thales’s market capitalisation rose by 1.4%.
The acquisition is taking place against a backdrop of rising demand for underwater mine-clearing systems following the mining of the Strait of Hormuz.
Exail had previously signed contracts worth €400 million to supply mine-detection drones.
In the battle to acquire the company, Thales was competing with the Safran SA group, which last month was in talks to buy the same manufacturer for €2.2 billion.
The deal will enable Thales to expand its range of naval solutions (radars and sonar systems). The expected synergies by 2032 amount to €90 million.
Subject to approval by the competition authorities, the first phase of the deal is set to be finalised by the third quarter of next year, with the takeover expected to be fully completed by early 2028.
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