SCHAUMBURG, IL -- The board of directors of Sparton Corp. has authorized Wells Fargo Securities to conduct a process to identify parties interested in acquiring the entire company.

The EMS company had previously announced it was exploring strategic options following the departure of its CEO and CFO, who came under fire by activist shareholders. 

The company said it considered a "number of options" presented by Wells Fargo, and expects to begin engaging with interested parties by the end of June.

The board said no definitive timetable has been set for the completion of the sale process and it might not disclose further developments.

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