SMT Perspectives and Prospects: The AI Era, Part 3: LLMs, SLMs, and Foundation Models
‘Deepfake’ Components
Global Citizenship: Our Strength Comes From Working TogetherUltra Electronics to Acquire Sparton
July 7, 2017 | Sparton Corp.Estimated reading time: 1 minute
Sparton Corp. had entered into a merger agreement with Ultra Electronics Holdings plc, pursuant to which Ultra will acquire Sparton for $23.50 per share in cash.
"This transaction is the result of the significant time and effort the company has invested in its previously announced process to explore strategic alternatives, including a potential acquisition of Sparton," said Joseph J. Hartnett, Interim President & Chief Executive Officer of Sparton. "We are pleased to have successfully concluded our process with a transaction that delivers significant value to the shareholders of Sparton."
The Board of Directors of Sparton unanimously approved the transaction. The transaction is subject to customary closing conditions, including regulatory clearances and approval of Sparton's and Ultra's respective shareholders, and is expected to close no later than January 1, 2018.
Additional details regarding the transaction will be set forth in a proxy statement that will be sent by Sparton to its shareholders in advance of the special meeting at which Sparton's shareholders will be asked to approve the transaction.
Wells Fargo Securities LLC and Raymond James & Associates Inc. acted as financial advisors to Sparton. Mayer Brown LLP acted as legal counsel to Sparton.
About Sparton Corp.
Sparton Corp., 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 here.
Share on:
Suggested Items
Nortech Systems Announces Expansion of PCBA Capabilities with IPC-J-STD-001 Space Addendum
10/08/2024 | BUSINESS WIRENortech Systems Incorporated (“Nortech Systems”, or the “Company), a leading provider of engineering and manufacturing solutions for the aerospace and defense industry, has announced the Company has certified trainers and operators to build printed circuit board assemblies (PCBAs) to the IPC-J-STD-001 Space Addendum standard.
Pursuit Aerospace Announces Completion of Strategic Acquisitions to Advance Growth
10/08/2024 | PRNewswirePursuit Aerospace, a global manufacturer of complex aircraft engine components, announced it has completed the strategic acquisitions of both Prescott Precision Die, Inc. and Merc Aerospace, Ltd.
OKI to Exhibit High-Reliability PCBs for Aerospace, Defense, and Telecommunications at PCB West 2024 in USA
10/08/2024 | BUSINESS WIREOKI announced that the OKI Group’s printed circuit board (PCB) company OKI Circuit Technology will participate in the PCB West 2024 Conference & Exhibition (PCB West), scheduled to take place from October 8 to 11 in Silicon Valley, USA. OTC will approach this event with the goal of expanding its customer base and sales in overseas markets, particularly in the United States.
Eaton, SIAEC Announce Key Milestones for Joint Venture
09/25/2024 | BUSINESS WIREIntelligent power management company Eaton and SIA Engineering Company Limited (SIAEC) unveiled the logo for their joint venture, Eaton Aerospace Component Services Asia Sdn. Bhd. (EAS), at MRO Asia-Pacific.
RTX’s Collins Aerospace, Pratt & Whitney and TU Delft Enhance Collaboration on Commercial Aerospace Technology Research
09/23/2024 | RTXCollins Aerospace, Pratt & Whitney and Delft University of Technology, have signed a master research agreement (MRA) enabling bilateral collaboration across a range of sustainable aviation research opportunities, including advanced materials, hydrogen propulsion, advanced manufacturing and industrial design.