Thales Acquires the Gorgé Family's Stake in Exail

Thales has signed an agreement to acquire the Gorgé family's 35.51% stake in Exail Technologies, with the intention of purchasing 100% of the share capital through a public tender offer at €134.00 per share. This acquisition aims to strengthen Thales' position in the anti-submarine warfare market. The transaction, valued at €3.9 billion, represents a 44% premium over Exail's share price in June 2026.

The transaction is expected to be profitable for Thales, generating synergies of €90 million on adjusted EBIT by 2032. Thales also anticipates that the transaction will not affect its dividend policy. The acquisition is expected to close in the third quarter of 2027, followed by a mandatory tender offer for the remaining Exail shares.