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4 Firms Advise As PE Firm Pays $183M For Defense Tech Co.

Law360 (December 12, 2018, 4:30 PM EST) -- Private equity firm Cerberus Capital Management LP has agreed to buy defense technology company Sparton Corp. for about $183 million, the companies said Wednesday, a deal shepherded by Lowenstein Sandler LLP, Kirkland & Ellis LLP, Blank Rome LLP and Mayer Brown LLP.

Under the terms of the transaction, an affiliate of Cerberus will buy all outstanding shares of Sparton common stock for $18.50 apiece in cash, according to a statement. That per share price represents a premium of about 41 percent over Sparton’s closing share price on Dec. 11. Sparton, which has been in business for over a century, makes electromechanical...

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