Wait, don't miss out on the latest GovCon industry news!

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings

*By clicking "Join us now" you agree to receive email, promotions and general messages from GovCon Wire, In addition, you also agree to GovCon Wire Privacy Policy and Terms & Conditions.

X Remind me Later

Foreign Investment Committee Completes Ultra Electronics-Sparton Transaction Review

The Committee on Foreign Investment in the U.S. has finalized its review of the proposed acquisition of Schaumburg, Illinois-based electromechanical technology company Sparton (NYSE: SPA) by U.K.-based defense and aerospace contractor Ultra Electronics.

Ultra said Monday it signed a timing agreement with the Justice Department and that the deal is still subject to antitrust approval under the Hart-Scott-Rodino Act.

The completion of the transaction review came four months after Ultra agreed to buy Sparton through a stock transaction valued at $23.50 per share.

Sparton said it expects the sale to conclude by January.

Ultra maintains a portfolio of technology offerings across underwater warfare, maritime, land, aviation, communications, nuclear, infrastructure and command and control, intelligence, surveillance and reconnaissance market segments.

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about M&A Activity

Related Articles