Global Citizenship: What I’ve Learned About the American PCB Business
Global Sourcing Spotlight: The Best Products to Buy Offshore Through Global Sourcing
Nolan's Notes: The Rise (and Risk) of Data
Cerberus Completes Acquisition of Sparton
March 11, 2019 | Sparton Corp.Estimated reading time: 1 minute
Sparton Corp. has completed its acquisition by Sparton Parent Inc. (formerly known as Striker Parent 2018 LLC), an affiliate of Cerberus Capital Management L.P.
Pursuant to the terms of the transaction, Sparton has become a wholly owned subsidiary of Parent and the holders of Sparton shares are entitled to receive an amount in cash equal to $18.50 per share of Sparton common stock. As a result of the completion of the acquisition, Sparton will operate as a privately held company and shares of Sparton common stock will cease trading on the New York Stock Exchange (NYSE), and will be delisted from the NYSE.
"This transaction represents an important milestone for our company," said Joseph Hartnett, interim president and chief executive officer of Sparton. "Cerberus is an exceptional financial and operating partner that will help drive Sparton's long-term growth and continue our track record of delivering industry-leading solutions to our customers around the world."
"We are excited to partner with Sparton as it looks to the future," said Dev Kapadia, Co-Chief Investment Officer of Private Equity and Senior Managing Director of Cerberus. "Building on the company's foundation of market-leading capabilities and strong customer relationships, we look forward to supporting the Sparton team as they drive new innovations and capitalize on dynamic global opportunities."
Share on:
Suggested Items
FTG to Acquire FLYHT Aerospace Solutions
10/23/2024 | Globe NewswireFiran Technology Group Corporation is pleased to announce that it has entered into a definitive arrangement agreement with FLYHT Aerospace Solutions Ltd. to acquire all of the issued and outstanding shares of FLYHT under a plan of arrangement under the Canada Business Corporations Act.
HANZA's Principal Owner Increases its Holding
10/14/2024 | HANZAHANZA’s main shareholder Färna Invest AB, owned by Gerald Engström, has purchased 380,000 shares in HANZA AB during September and owns 9,980,000 shares in the company at the end of September, corresponding to 22.86%. This is according to data as of 2024-09-30 from Euroclear.
HANZA CEO Erik Stenfors Increases Stake in Company
09/26/2024 | HANZAErik Stenfors, CEO of HANZA, a leading global provider of advanced manufacturing services, has purchased 8,000 shares in the company.
LUXSHARE's investment Boosts LEONI's Competitiveness
09/26/2024 | LEONIA transformative partnership has been established: With LUXSHARE’s investment, LEONI AG, and its Wiring Systems Division (WSD), gain an additional powerful shareholder, significantly enhancing market access, technological innovation, and financial stability.
NOTE Board Approves Share Buyback
08/30/2024 | NOTEThe Board of Directors of Note AB has resolved, pursuant to the authorisation granted by the Annual General Meeting on 18 April 2024, to acquire own shares on Nasdaq Stockholm.