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Investing.com -- Theon International Plc (AS:THEON) stock jumped 17.8% on Monday after the company announced plans to acquire a 9.8% stake in French electro-optical technology specialist Exosens SA for €268.7 million.
The deal, announced on Friday, will make Theon the second largest shareholder in Exosens after Groupe HLD.
The acquisition price represents €54.0 per share and will be funded through a bridge facility provided by UBS Europe SE and Citibank Europe PLC, which the company plans to refinance with a combination of debt and newly issued equity.
Exosens specializes in advanced electro-optical technologies, including light amplification, detection, and imaging systems. The companies have previously collaborated on projects in Europe and the Middle East.
"THEON and EXOSENS have been close commercial partners for years, having been awarded landmark contracts in Europe and Middle East," said Christian Hadjiminas, Founder and CEO of THEON.
"THEON remains committed to maintaining its long-standing commercial relationship with EXOSENS, which remains governed by existing contractual arrangements."
The transaction remains subject to regulatory approvals in several countries and is expected to close in early first quarter 2026. UBS Europe SE served as the sole financial advisor to Theon, while Clifford Chance provided legal counsel for the deal.