Business
Somnigroup International, the World's Leading Bedding Company, to Acquire Leggett & Platt, A Diversified Component Manufacturer and Key Somnigroup Supplier, in an All-Stock Transaction
Somnigroup International Inc. (NYSE: SGI, "Somnigroup") and Leggett & Platt, Incorporated (NYSE: LEG, "Leggett & Platt") today announced that the companies have signed a definitive agreement pursuant to which Somnigroup will acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion based on Somnigroup's closing share price on April 10, 2026.
About this update from Somnigroup International Inc.
[{"type":"text","content":"– Continues vertical integration strategy, enhancing consumer-centric innovation ","length":80,"tagName":"p","attribs":{}},{"type":"text","content":"– Expands addressable market in bedding and into non-bedding industries ","length":71,"tagName":"p","attribs":{}},{"type":"text","content":"– Reduces financial leverage and drives operating cash flow ","length":59,"tagName":"p","attribs":{}},{"type":"text","content":"– Drives immediate adjusted EPS accretion before synergies ","length":58,"tagName":"p","attribs":{}},{"type":"text","content":"– Creates meaningful synergy opportunities","length":42,"tagName":"p","attribs":{}},{"type":"text","content":"DALLAS and CARTHAGE, Mo., April 13, 2026 /PRNewswire/ -- Somnigroup International Inc. (NYSE: SGI, "Somnigroup") and Leggett & Platt, Incorporated (NYSE: LEG, "Leggett & Platt") today announced that the companies have signed a definitive agreement pursuant to which Somnigroup will acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion based on Somnigroup's closing share price on April 10, 2026.","length":467,"tagName":"p"},{"type":"text","content":"Under the terms of the agreement, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they own. As a result of the transaction, Leggett & Platt's shareholders will own approximately 9% of the combined company on a fully diluted basis. The agreement has been unanimously approved by the Boards of Directors of Somnigroup and Leggett & Platt.","length":450,"tagName":"p"},{"type":"text","content":"The transaction is currently anticipated to close by year-end 2026, subject to the satisfaction of customary closing conditions, including approval by Leggett & Platt's shareholders and receipt of applicable regulatory approvals. The transaction does not require Somnigroup shareholder approval.","length":303,"tagName":"p"},{"type":"text","content":"Following the close of the transaction, Leggett & Platt is expected to operate as a separate business unit within Somnigroup, similar to Tempur Sealy, Mattress Firm, and Dreams, and to maintain its offices in Carthage, Missouri. Leggett & Platt's Chairman and CEO, Karl Glassman, will continue to lead Legg...