Breaking News Bar
updated: 10/6/2017 1:39 PM

Sparton shareholders approve merger with Ultra Electronics

Success - Article sent! close
Business Wire

Schaumburg-based Sparton Corp.'s shareholders this week approved the company's merger with Ultra Electronics Holdings PLC and Ultra Electronics Aneira Inc.

Ultra Electronics Holdings PLC announced in July it would acquire the manufacturer and supplier of electromechanical devices for approximately $234.8 million. Ultra is a global defense, security, transport and energy company based in Middlesex, England.

Sparton's products range from sonobuoys used to track submarines for the military to power and sensing systems for industrial and medical customers. The company has 13 manufacturing locations and engineering design centers around the world.

The transaction remains subject to other closing conditions and the parties continue to work toward completion of the transaction, which was anticipated to be Jan. 1. 2018.