ESLT - Elbit Systems of America closed acquisition deal with Sparton Corporation

Elbit Systems of America (ESLT) has completed the previously announced acquisition of Sparton Corporation (SPA) from an affiliate of Cerberus Capital Management, L.P. for $380M. "Acquiring Sparton, one of the primary American suppliers of sonobuoys, as well as other undersea warfare products, provides us with another significant franchise and an expansion of our business with the U.S. Navy and within the U.S.," said Raanan Horowitz, President & CEO of Elbit Systems (ESLT) of America. "Sparton has been and will continue to be led by a strong and capable management team, and has a good reputation with the U.S. Navy customer. I believe this acquisition will have a positive impact on our growth in both the near and long-term as we continue to invest in Sparton and work to expand its business portfolio and capabilities." As part the acquisition, Elbit Systems of America has established an independent U.S. Proxy Board to oversee

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Elbit Systems of America closed acquisition deal with Sparton Corporation