March 5, 2018 / 7:29 AM / 3 months ago

Britain's Ultra Electronics terminates $234 mln Sparton deal

March 5 (Reuters) - British defence contractor Ultra Electronics said it terminated the $234 million acquisition of Sparton Corp following an unfavourable anti-trust review outcome from the U.S. Department of Justice.

Ultra Electronics also said underlying operating profit fell to 120.1 million pounds ($165.5 million) for the year ended Dec. 31, from 131.1 million pounds a year earlier, bogged down by lower defence orders in the UK.

$1 = 0.7258 pounds Reporting By Justin George Varghese in Bengaluru

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