Ultra Electronics – Sparton Merger Deal Falls Through

London-based Ultra Electronics and Schaumberg, Illinois headquartered Sparton have abandoned their merger, originally valued at more than $234 million.

Namely, the transaction threatened to permanently combine the only two qualified suppliers of sonobuoys to the U.S. Navy.

During the review of the proposed merger by the United States Department of Justice (DOJ), the United States Navy expressed the view that instead of the parties proceeding with the merger, each of Sparton and Ultra should enhance its ability to independently develop, produce and sell sonobuoys and over time work toward the elimination of their use of Sparton’s and Ultra’s ERAPSCO joint venture for such activities. The staff of the DOJ then informed Sparton and Ultra that it intended to recommend that the DOJ block the merger.

Sonobuoys are used in support of multiple underwater missions for detection, classification, and localization of adversary submarines during peacetime and combat operations.

Ultra Electronics and Sparton have in recent years supplied this equipment to the U.S. Navy through their joint venture, ERAPSCO.

Share this article

Follow Subsea World News


<< Mar 2018 >>
26 27 28 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

The Offshore Technology Conference (OTC) 2018

The Offshore Technology Conference (OTC) is where energy professionals meet to exchange ideas and opinions to advance scientific…

read more >

OTC Asia 2018

The biennial OTC Asia is where energy professionals meet to exchange ideas and opinions to advance scientific and technical knowledge…

read more >

NAPEC 2018

North Africa Petroleum Exhibition and Conference – NAPEC is the largest oil and gas exhibition & conference in Africa focusing on the north Africa Market…

read more >

Pipeline Energy Expo 2018

The conference will offer prime opportunities for pipeline professionals to learn, network, and seek innovative solutions and products…

read more >