Popular Mattress Makers Tempur-Pedic and Sealy Get in Bed Together
Filed under: Market News, Mergers & Acquisitions
There’s some serious consolidation taking place in the bedding industry.
Tempur-Pedic (TPX) announced on Thursday that it will be acquiring rival Sealy (ZZ) by cashing out shareholders to the tune of $2.20 a share.
The offer isn’t much of a premium to Sealy’s Wednesday close of $2.14, but it’s pretty much a done deal. Tempur-Pedic has already secured consent from investors accounting for a 51% stake in Sealy, including a private equity firm that owns 44% of the company.
Tempur-Pedic will…
Popular Mattress Makers Tempur-Pedic and Sealy Get in Bed Together originally appeared on DailyFinance.com on 2012-09-27T12:01:00Z.
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