Big Law

Mattress Firm to be Acquired by Tempur Sealy in $4 Billion Deal

Tempur Sealy International Inc said on Tuesday it has agreed to acquire mattress retailer Mattress Firm in a cash-and-stock deal valued at around $4.0 billion, as the leading bedding maker looks to grow its business and stem a post-pandemic weakness in sales.

Shares of Tempur Sealy, which said the deal was expected to be closed in the second half of 2024, were down 3% in premarket trading.

Tempur Sealy, which is one of the largest mattress makers in the U.S., said it has received a request for additional information and documentary material from the Federal Trade Commission. The company expects to work with the FTC to complete the acquisition, it added.

Read the source article at finance.yahoo.com

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