Israeli protection electronics firm Elbit Methods Ltd. (Nasdaq: ESLT; TASE: ESLT) introduced at the moment that its US subsidiary, Elbit Methods of America LLC has signed a definitive settlement with an affiliate of Cerberus Capital Administration L.P. for the acquisition of Sparton Company for $380 million.
The transaction is topic to closing situations together with receipt of US regulatory approvals, which might take a number of months.
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Headquartered in De Leon Springs, Florida, Sparton develops, produces and provides digital programs supporting undersea warfare for the US Navy and allied army forces.
Elbit Methods president & CEO Bezhalel Machlis stated, “The acquisition of Sparton will strengthen Elbit Methods of America’s capabilities and can allow enlargement of actions within the naval area. We consider this acquisition shall be helpful for each Elbit Methods’ and Sparton’s workers and prospects.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on December 23, 2020
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