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Bids, Mergers and Takeovers

Ultra updates on Sparton deal

25 September 2017 13:35

Ultra Electronics has confirmed that the Company and Sparton Corporation have each received a request for additional information (the "second requests") from the US Department of Justice in connection with Ultra's pending acquisition of Sparton.

The second requests were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act").

The effect of the second requests is to extend the waiting period imposed by the HSR Act until 30 days after Ultra and Sparton have substantially complied with the requests, unless that period is extended voluntarily by both Ultra and Sparton or terminated sooner by the DOJ.

Ultra and Sparton have been cooperating fully with the DOJ as it conducts its review of the Transaction and will continue to do so in connection with the second requests.

Ultra and Sparton continue to target completing the Transaction by 1 January 2018.

At 1:35pm: (LON:ULE) Ultra Electronics Holdings PLC share price was -8p at 1763p

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