Ultra Electronics drops Sparton deal after DOJ raises questions

The Justice Department announced that Ultra Electronics Holdings and Sparton Corp. have decided to drop their proposed merger, which was originally valued at more than $234 million.

The deal threatened to permanently combine the only two qualified suppliers of sonobuoys to the US Navy, the department said in a March 5 press release. Sonobuoys support multiple underwater missions for detection, classification, and localization of adversary submarines in peacetime as well as during combat operations.  

In recent years, Ultra Electronics and Sparton have supplied this equipment...

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