Author: Jane Edwards|| Date Published: November 22, 2017
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-RodinoAct.
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.
The Naval Information Warfare Center Pacific is soliciting proposals for the development and fielding of intelligence, surveillance and reconnaissance systems…
The Department of War is accelerating its push into unmanned systems, moving beyond experimentation toward large-scale production, streamlined acquisition and…
BAE Systems has received a $117.7 million contract modification from the U.S. Navy to support depot-level modernization, maintenance and repair of USS…
Advanced wireless infrastructure is becoming as strategically important as artificial intelligence in modern defense operations 5G standalone enables network slicing,…
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.
