Cerberus Completes Acquisition of Sparton Corporation
SPARTON (SPA)
Last sparton earnings: 5/9 04:05 pm
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US:NYSE Investor Relations:
sparton.com/investor-relations
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Source: Business Wire
SCHAUMBURG, Ill.--(BUSINESS WIRE)-- Sparton Corporation (“Sparton” or the “Company”) (NYSE:SPA) today announced the completion of its acquisition by Sparton Parent, Inc. (formerly known as Striker Parent 2018, LLC) (“Parent”), an affiliate of Cerberus Capital Management, L.P. (“Cerberus”). Pursuant to the terms of the transaction, Sparton has become a wholly owned subsidiary of Parent and the holders of Sparton shares (other than shares held by (i) the parties to the transaction or any of their respective wholly owned subsidiaries and (ii) shareholders who have properly exercised dissenters’ rights) 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 (the “NYSE”) prior to the opening
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