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LHX - L3harris Technologies Inc News Story

$212.05 1.9  0.9%

Last Trade - 21/04/21

Sector
Industrials
Size
Large Cap
Market Cap £31.70bn
Enterprise Value £35.83bn
Revenue £13.06bn
Position in Universe 291st / 6852

BUZZ- CAE Inc: Hits 1-year high on $1.05 bln deal to buy L3Harris unit

Mon 1st March, 2021 3:24pm
** Flight simulator maker's shares  CAE.TO  up 11% at
C$37.40 in early trading, their highest in about a year
    ** Co agrees to buy aerospace and defense co L3Harris
Technologies Inc's  LHX.N  military training division for $1.05
bln to expand its defense business  urn:newsml:reuters.com:*:nL3N2KZ2TB
    ** CAE will fund the deal by a private placement of roughly
C$700 mln ($551.96 mln) from two institutional investors
    ** Deal broadens CAE's position in simulation and is
expected to augment the development of training systems for
fighter and bomber aircraft, submarines and remotely piloted
aircraft  urn:newsml:reuters.com:*:nL2N2KZ0TX
    ** Deal expected to close in H2 of 2021, after which the
training division will be based in Tampa, Florida
    ** LHX stock up 2% at $185.73
    ** Including session's gains, CAE stock up 6.2% and LHX
stock down 1.6% YTD

 (Reporting by Sahil Shaw in Bengaluru)
 ((sahil.shaw@thomsonreuters.com))
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