Source - SMW
Ultra Electronics said it had agreed to extend the time period for which it can complete its acquisition of Sparton Corporation, as the pair await the blessing of the the United States Department of Justice.

Ultra and Sparton have agreed an extension for completion to March 31 from January 31 to reflect the progress of the regulatory approval process, United said.

The merger agreement also provides Ultra with an option to further extend the completion deadline until July 31.