SCHAUMBURG, Ill.--(BUSINESS WIRE)--Sparton Corporation (NYSE:SPA) (“Sparton”) today confirmed, in response to press reports and an announcement by Ultra Electronics Holdings plc (“Ultra”), that it is in discussions with Ultra regarding the acquisition of Sparton by Ultra. These discussions are an outgrowth of Sparton’s previously announced sale process.
There can be no assurance that Sparton will reach an agreement to be acquired by Ultra or any other potential acquirer. Any agreement that is reached will be subject to customary closing conditions, including approval by Sparton’s shareholders and governmental approvals. There can be no assurance that if an agreement with Ultra or another third party is reached that the transaction will be consummated.
Sparton does not expect to provide further updates regarding negotiations with Ultra or any other third party, or the terms of any agreement, except as required by law or as otherwise determined appropriate by Sparton.
About Sparton Corporation
Sparton Corporation (NYSE:SPA), now in its 117th year, is a provider of complex and sophisticated electromechanical devices with capabilities that include concept development, industrial design, design and manufacturing engineering, production, distribution, field service, and refurbishment. The primary markets served are Medical & Biotechnology, Military & Aerospace, and Industrial & Commercial. Headquartered in Schaumburg, IL, Sparton currently has thirteen manufacturing locations and engineering design centers worldwide. Sparton’s Web site may be accessed at http://www.sparton.com/.
Safe Harbor and Fair Disclosure Statement
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: To the extent any statements made in this release contain information that is not historical, these statements are essentially forward-looking and are subject to risks and uncertainties, including the difficulty of predicting future results, the regulatory environment, fluctuations in operating results and other risks detailed from time to time in Sparton’s filings with the Securities and Exchange Commission (“SEC”). The matters discussed in this press release may also involve risks and uncertainties concerning Sparton’s services described in Sparton’s filings with the SEC. In particular, see the risk factors described in Sparton’s most recent Form 10-K and Form 10-Q. Sparton assumes no obligation to update the forward-looking information contained in this press release.