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Cerberus Capital To Acquire Sparton Corp.

Cal Biesecker By
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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…

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