Sparton Corporation (NYSE: SPA) Investor Investigation Over Takeover Announced

Investors who purchased shares of Sparton Corporation (NYSE: SPA) and currently hold any of those NYSE: SPA shares have certain options and should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Sparton
Affected Securities: 
NYSE: SPA

An investigation on behalf of investors, who currently hold shares of Sparton Corporation (NYSE: SPA), was announced concerning whether the takeover of Sparton Corporation is unfair to NYSE: SPA stockholders.

The investigation by a law firm concerns whether certain officers and directors of Sparton Corporation breached their fiduciary duties owed to NYSE: SPA investors in connection with the proposed acquisition.

Schaumburg, IL based Sparton Corporation, together with its subsidiaries, provides design, development, and manufacturing services for electromechanical devices; and engineered products in electromechanical value stream worldwide.

On December 12, 2018, Sparton Corporation (NYSE:SPA) announced that it has entered into a definitive agreement to be acquired by an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing. Under the terms of the agreement, Cerberus will acquire all outstanding shares of Sparton’s common stock for $18.50 per share in cash.

However, given that at least one analyst has set the high target price for NYSE: SPA shares at $23.50 per share, the investigation concerns whether the offer is unfair to NYSE: SPA stockholders. More specifically, the investigation concerns whether the Sparton Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.