Sparton +17% after confirming takeover talks by Ultra Electronics

|About: Sparton Corporation (SPA)|By:, SA News Editor

Sparton Corp. (SPA +17.2%) surges after confirming it is in talks with Ultra Electronics Holdings about a possible acquisition of the company.

SPA says the discussions are an outgrowth of its previously announced sale process.

Ultra says it is pursuing a proposed deal because SPA's ECP division is an excellent strategic fit with its existing activities in a market segment in which the company has extensive experience and well established customers.

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