Tempur Sealy to buy Mattress Firm in $4 billion deal
The Associated Press
WASHINGTON (AP) – Tempur Sealy has agreed to acquire Mattress Firm in a cash-and-stock transaction valued at about $4 billion.
The companies said Tuesday they expect to complete the transaction in the second half of 2024.
After the acquistion is complete, Mattress Firm will operate as a separate business unit within Tempur Sealy.
Also on Tuesday, Tempur Sealy posted first-quarter profits of $85.3 million.
On a per-share basis, the Kentucky-based mattress maker said it had profit of 48 cents. Earnings, adjusted for one-time gains and costs, were 53 cents per share.
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5/9/2023 12:13:40 PM (GMT -5:00)