RTTNews | Feb 28, 2021 08:53PM EST

20:52 Sunday, February 28, 2021 (RTTNews.com) - CAE (CAE, CAE.TO) is nearing a deal to buy L3Harris Technologies Inc.'s (LHX) military-training division for $1.05 billion, the Wall Street Journal reported citing people familiar with the matter.

A deal is expected Monday, assuming talks don't fall apart, the report said.

The military-training division includes three main businesses: Link, which provides military training in the U.S.; Doss Aviation, which provides flight training to the U.S. Air Force; and AMI, which designs and makes simulator hardware. The business has about $500 million in annual revenue.

The deal is to be funded by a private placement of about C$700 million from two institutional investors, the report said.

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