Aerospace Group:

Business/Financial

Cerberus Capital To Acquire Sparton Corp.

By Cal Biesecker

Thursday, December 13th, 2018

SHARE:

Cerberus Capital To Acquire Sparton Corp.

Sparton manufactures sonobuoys. (Photo: Sparton)

The private equity firm Cerberus Capital Management on Wednesday said it has agreed to acquire Sparton Corp. [SPA], a provider of components for the medical and biotechnology, military and aerospace, and industrial markets, for $18.50 per share in cash.The purchase price represents a 41 percent premium to Illinois-based Sparton’s closing share price on Dec. 11. The deal has been approved by Sparton’s board but still needs approvals by shareholders and regulators. Sparton expects the transaction to close in the first…

Unmanned Systems

In Response To Flag Concerns, DoD Looks To Reduce Drone Prices, As Order for 30,000 Looms

The Pentagon is bargain shopping for Group 1 drones, as other countries, including Ukraine and China, have taken advantage of consumer electronics-level prices to bolster their stables. “In last spring’s […]

Pentagon

Amid Questions On Weapons Stockpiles, Caine Says U.S. Has ‘Sufficient’ Munitions For Iran Operation

Pentagon leaders on Wednesday sought to quell concerns over the rate at which the U.S. is employing critical munitions in its military strike campaign against Iran, with lawmakers also pressing […]

Congress

SASC Leaders Criticize Trump’s Defense Strategy, Press Colby On Policy Shifts

Senate Armed Services Committee (SASC) leadership on Tuesday criticized the Trump administration’s new National Defense Strategy (NDS) and pressed the Pentagon’s top policy official to explain the document’s priorities. SASC […]

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]