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AI brief of an SEC Form 8-K · CAE INC (CAE)

CAE to sell Marine Controls unit to L-3 Communications for C$328 million

Mixed Impact 4 of 5 m&a Written later

CAE Inc. signed an agreement on November 1, 2004 to sell its Marine Controls unit to L-3 Communications Corporation for approximately C$328 million, including C$276 million in cash. CAE expects an after-tax capital gain of about C$125 million at closing and plans to use proceeds mainly to reduce long-term debt, though the deal is initially expected to dilute earnings.

Key points

  • Price: approximately C$328 million, including C$276 million (US$225 million) in cash and assumption of C$52 million of project finance debt
  • Marine Controls fiscal 2004 revenue was C$158.6 million, about 15% of CAE's total revenue
  • Expected after-tax capital gain of approximately C$125 million at closing; closing expected before March 31, 2005
  • Deal is subject to regulatory approvals and other closing conditions

The filing

CompanyCAE INC (CAE)
Form8-K, current report
Filed with the SECNov 12, 2004, 7:18 AM ET
Accession number0001206212-04-000232

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 12, 2004.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.