US DoJ Seeks Addl Information On Ultra Electronics - Sparton Deal

(RTTNews) - Ultra Electronics Holdings plc. (ULE.L) and Sparton Corp. announced that each have received a request for additional information from the United States Department of Justice in connection with Ultra's pending acquisition of Sparton.

The effect of the second requests is to extend the waiting period imposed by the HSR Act until 30 days after Ultra and Sparton have substantially complied with the requests, unless that period is extended voluntarily by both Ultra and Sparton or terminated sooner by the DOJ.

The Transaction remains subject to approval by Sparton's shareholders and other approvals, as well as other customary closing conditions. Ultra and Sparton continue to target completing the Transaction by 1 January 2018.

Separately,Ultra Electronics said that its PMES business, based in Rugeley Staffordshire, has been awarded a 37 million pounds contract by BAE Systems Maritime-Submarines in relation to a UK naval defence programme. This contract is for the final development and production of a hybrid Electric Propulsion System.

This is the second of the three major contracts expected by the Group in the second half of the year. The first contract to supply the Indian Navy with new naval defence systems was announced in July.