Status:  Clearance

Acquirer:             CAE Inc. (Canada)

Acquired:            Military Training business of L3Harris Technologies, Inc. (US)

Value:                   $1.05 billion

Industry:             Defense services

On March 1, 2021, CAE Inc., a Canadian publicly traded (SX: CAE, NYSE: CAE) producer of simulation technologies, announced that it entered into a definitive agreement with L3Harris Technologies, Inc., to acquire L3Harris’ Military Training business for US $1.05 billion.  (See CAE Inc. Prospectus Supplement, Mar. 10, 2021, SEC Filing.)   “The closing of the Acquisition is subject to the receipt of regulatory and other third party approvals and clearances, including the . . . completion of the clearance process of the Acquisition by the Committee on Foreign Investment in the United States . . . .” (Id.; see Share and Asset Purchase Agreement Section 3.4, CAE Inc. Form 6-K, Ex-99.3, Mar. 5, 2021, SEC Filing.) On June 28, 2021, CAE announced that it had “received all the required regulatory approvals.” (CAE Inc., Press release, CAE receives regulatory approvals for acquisition of L3Harris Technologies’ Military Training business, June 28, 2021.) On July 2, 2021, L3Harris “completed the sale[] of its Military Training business to CAE.” (L3Harris Technologies Inc., Form 8K, Ex-99.1, July 6, 2021, SEC Filing).

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