Exosens' shares jump on Theon's plan to buy minority stake

Theon International

13/10/2025 09:30

** Shares of Exosens EXENS.PA up 7.7%, paring gains from as much as 19.9%, after Theon International THEON.AS announced its plan to buy a 9.8% minority stake in the French night-vision goggle company

** Transaction is expected at 268.7 million euros ($311.9 million), for 54 euros a share, a 17.78% premium to Friday's 45.80 euro close

** "The primary objective of this agreement for Theon is to secure its tube supplies in order to avoid a bottleneck in supply," Mid Cap says in a note

** "Theon limited its ambitions to a stake below the 10% threshold at this stage, as crossing this level would trigger the requirement of prior approval and a detailed review by the French and other NATO authorities," Bernstein analyst Aleksander Peterc says

** Including today's rise the stock has gained 140.86% YTD

 (Reporting by Hugo Lhomedet)

 ((hugo.lhomedet@thomsonreuters.com))