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HAIFA, Israel, Dec. 23, 2020 /PRNewswire/
Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ( Elbit Systems ) announced today that its U.S. subsidiary, Elbit Systems of America, LLC ( Elbit Systems of America ), has signed a definitive agreement with an affiliate of Cerberus Capital Management, L.P. for the acquisition of Sparton Corporation ( Sparton ) for a purchase price of $380 million.
The transaction is conditioned on various closing conditions, including receipt of U.S. regulatory approvals, the pursuit of which could encompass a number of months.
Headquartered in De Leon Springs, Florida, Sparton is a premier developer, producer and supplier of electronic systems supporting Undersea Warfare for the U.S. Navy and allied military forces.