Exail and Safran end talks on possible acquisition (updated)

Safran SA

03/07/2026 21:21

New throughout, adds details, background and comment from Safran

    July 3 (Reuters) - 
    Exail Technologies EXA.PA and French defence group Safran SAF.PA ended discussions over Safran's possible acquisition of the sea drone maker with no binding agreement between the parties, both companies said on Friday.

        The companies entered into exclusive talks late June over a possible acquisition of Exail at €128.5 ($146.97) per share.
      

        A possible deal would have seen Safran buying the Gorge family's controlling stake in Exail, followed by a mandatory public offer.
      
The Gorge family owned 43.92% of Exail Technologies at the end of 2025, according to the company's annual report.

        Exail's shares jumped after the outbreak of the Iran conflict, as investors anticipated increased demand for its sea drones in de-mining operations in the Strait of Hormuz. Its share price 
        tumbled
         after the company failed to reach an agreement with creditor ICG over debt valuation.
      
Exail Technologies is a high-tech defence company specializing in the fields of autonomous robotics and navigation systems. The group offers maritime drone systems, particularly for countering underwater mines, and inertial navigation units using state-of-the-art fibre-optic gyroscope technology.
Safran said negotiations ended as the parties were unable to reach mutually acceptable terms.
     
($1 = 0.8744 euros)

(Reporting by Natalia Bueno Rebolledo in Mexico City; Editing by David Gregorio)
((natalia.bueno@thomsonreuters.com))