Elbit Systems U.S. Subsidiary Completes the Acquisition of Sparton Corporation
Elbit Systems Ltd. - Ordinary Shares (ESLT)
Last elbit systems ltd. - ordinary shares earnings: 3/25 04:11 am
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ir.elbitsystems.com
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Source: PR Newswire
HAIFA, Israel, April 6, 2021 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) and (TASE: ESLT) ("Elbit Systems" or "the Company") announced today, further to the Company's announcement of December 23, 2020, that its U.S. subsidiary, Elbit Systems of America, LLC ("Elbit Systems of America"), completed the acquisition of Sparton Corporation ("Sparton") from an affiliate of Cerberus Capital Management, L.P. for a purchase price of $380 million. The closing follows receipt of all the required approvals, including receipt of U.S. Government and regulatory approvals.Headquartered in De Leon Springs, Florida, U.S., Sparton is a premier developer, producer and supplier of systems supporting Undersea Warfare for the U.S. Navy and allied military forces.Bezhalel (Butzi) Machlis, Elbit Systems President & CEO, commented: "The growing importance of the maritime arena and the market position and technological strength of Sparton make this acquisition significant to our long-term growth strategy,
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