Schaumburg, Ill. — (BUSINESS WIRE) — Jun. 26, 2017 —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 https://www.sparton.com/.
Contact
Investors:Institutional Marketing Services (IMS)
John Nesbett/Jennifer Belodeau, 203-972-9200
jnesbett@institutionalms.com
or
Company:
Sparton Corporation
Joseph McCormack, 847-762-5812
jmccormack@sparton.com
