CAE to buy L3Harris military training business for US$1 05B bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Broadens CAE s position in training and simulation across multi-domain operations
Low-teens percentage EPS accretion expected within first full year post closing, including expected cost synergies
Expected to be immediately accretive to Defence & Security operating profit and EBITDA
(1) margins on operational efficiencies
Funding structure consistent with CAE s investment grade profile
Transaction builds on CAE s track record of successful acquisitions
MONTREAL, March 1, 2021 /PRNewswire/ -
(NYSE: CAE) (TSX: CAE) – CAE today announced that it has entered into a definitive agreement with L3Harris Technologies (NYSE: LHX) to acquire L3Harris Military Training business for US$1.05 billion, subject to customary adjustments (the
Acquisition ). The Acquisition value represents approximately 13.5 times the L3Harris Military Training business estimated adjusted 2020 EBITDA
CAE to buy L3Harris military training business for US$1 05 billion - Medicine Hat NewsMedicine Hat News medicinehatnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medicinehatnews.com Daily Mail and Mail on Sunday newspapers.
By Murdo Morrison2021-03-01T15:01:00+00:00
CAE has made its largest acquisition to date and its fourth in almost as many months, after agreeing to buy L3Harris’s US military training arm for $1.05 billion.
Source: US Air Force
US Air Force crew train in a CAE-run Lockheed Martin C-130H simulator
The deal – which is expected to close in the second half of this year – will make the Canadian firm the largest non-OEM training provider to the US military, with a position on key programmes such as the US Air Force’s Lockheed Martin F-16 and Northrop Grumman B-2, and the US Navy and US Marine Corps Boeing F/A-18.
CAE to acquire L3Harris Technologies military training business for $1 05 billion verticalmag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from verticalmag.com Daily Mail and Mail on Sunday newspapers.