Safran abandons its plan to acquire Exail Technologies. The two companies announced on Friday, July 3, that they have ended their exclusive negotiations, which had begun a week earlier with a view to a proposed acquisition. In a statement, Safran said the discussions "did not lead to an agreement," as the parties were unable to reach "mutually acceptable terms.
" Exail Technologies also confirmed that "no binding agreement was reached" and that the transaction would therefore not proceed. On June 26, Safran had announced that it had entered into exclusive negotiations to acquire Exail Technologies at a price of €128.50 per share, in a deal that would have valued the robotics, navigation, and defense technology specialist at more than €2 billion. The collapse of the proposed acquisition means Exail will continue to pursue its growth strategy independently. According to several sources, the company will nevertheless need to find a solution to facilitate the planned exit of its financial partner, ICG, by the end of the year, a key issue for its financial structure.
0 Comments