SCHAUMBURG, IL -- Ultra Electronics Holdings is in talks to acquire Sparton, the latter today confirmed.

Sparton previously announced it was seeking a buyer, and said it does not expect to provide further updates regarding negotiations with Ultra or any other third party, or the terms of any agreement, except as required by law or as otherwise determined appropriate by Sparton.

Sparton said any agreement reached would be subject to customary closing conditions, including approval by Sparton’s shareholders and governmental approvals. It declined to give additional color on the talks.

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