Update: FTC to Block Tempur Sealy Acquisition of Retailer Mattress Firm

MT Newswires Live07-03

(Updates with details throughout.)

The US Federal Trade Commission has voted to block Tempur Sealy International's (TPX) $4 billion acquisition of Mattress Firm, the regulator said Tuesday.

The Commission voted 5-0 to challenge the deal, saying it would give Tempur Sealy "the ability and incentive to suppress competition and raise prices for mattresses for millions of consumers."

The regulator said it has issued an administrative complaint and authorized a lawsuit in federal court to block the transaction.

"Through emails, presentations, and other deal documents, Tempur Sealy has made it abundantly clear that its acquisition of Mattress Firm is intended to kneecap competitors and dominate the market," Henry Liu, director of FTC Bureau of Competition said.

Tempur Sealy said in a separate statement that FTC's decision does not reflect all the relevant facts and regulations. The company expects to complete the litigation process in the coming months and aims to close the deal in late 2024 or early 2025.

The FTC's decision to block the deal was earlier reported by Reuters.

Mattress Firm did not immediately respond to MT Newswires' requests for comment.

Price: 48.39, Change: +1.18, Percent Change: +2.50

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2448162019?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-07-03 01:27","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2448162019","market":"us","top_or_hot":-1,"title":"Update: FTC to Block Tempur Sealy Acquisition of Retailer Mattress Firm","media":"MT Newswires Live","content":"<html><body><p> (Updates with details throughout.)</p><p>The US Federal Trade Commission has voted to block Tempur Sealy International's (TPX) $4 billion acquisition of Mattress Firm, the regulator said Tuesday.</p><p>The Commission voted 5-0 to challenge the deal, saying it would give Tempur Sealy \"the ability and incentive to suppress competition and raise prices for mattresses for millions of consumers.\"</p><p>The regulator said it has issued an administrative complaint and authorized a lawsuit in federal court to block the transaction.</p><p>\"Through emails, presentations, and other deal documents, Tempur Sealy has made it abundantly clear that its acquisition of Mattress Firm is intended to kneecap competitors and dominate the market,\" Henry Liu, director of FTC Bureau of Competition said.</p><p>Tempur Sealy said in a separate statement that FTC's decision does not reflect all the relevant facts and regulations. The company expects to complete the litigation process in the coming months and aims to close the deal in late 2024 or early 2025.</p><p>The FTC's decision to block the deal was earlier reported by Reuters.</p><p>Mattress Firm did not immediately respond to MT Newswires' requests for comment.</p><p>Price: 48.39, Change: +1.18, Percent Change: +2.50</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Update: FTC to Block Tempur Sealy Acquisition of Retailer Mattress Firm</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUpdate: FTC to Block Tempur Sealy Acquisition of Retailer Mattress Firm\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-03 01:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Updates with details throughout.)The US Federal Trade Commission has voted to block Tempur Sealy International's (TPX) $4 billion acquisition of Mattress Firm, the regulator said Tuesday.The ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B7SZLL34.SGD","symbol_name":"Legg Mason ClearBridge - Value A Acc SGD-H","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2448162019","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2448162019","pubTimestamp":1719941272,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"The US Federal Trade Commission has voted to block Tempur Sealy International's  $4 billion acquisition of Mattress Firm, the regulator said Tuesday.The Commission voted 5-0 to challenge the deal, saying it would give Tempur Sealy \"the ability and incentive to suppress competition and raise prices for mattresses for millions of consumers.\"The regulator said it has issued an administrative complaint and authorized a lawsuit in federal court to block the transaction.\"Through emails, presentations, and other deal documents, Tempur Sealy has made it abundantly clear that its acquisition of Mattress Firm is intended to kneecap competitors and dominate the market,\" Henry Liu, director of FTC Bureau of Competition said.Tempur Sealy said in a separate statement that FTC's decision does not reflect all the relevant facts and regulations. The company expects to complete the litigation process in the coming months and aims to close the deal in late 2024 or early 2025.The FTC's decision to block t","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","BK4585":"ETF&股票定投概念","BK4581":"高盛持仓","BK4227":"交易和支付处理服务","BK4588":"碎股","BK4528":"SaaS概念","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4106":"数据处理与外包服务","BK4554":"元宇宙及AR概念","TPX":"泰浦陛迪国际公司","BK4095":"家庭装饰品","LU1861558580.USD":"日兴方舟颠覆性创新基金B","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4503":"景林资产持仓","BK4551":"寇图资本持仓","FTC":"First Trust Large Cap Growth Opp","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD"},"translate_title":"更新：联邦贸易委员会将阻止泰普尔丝涟收购零售商床垫公司","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FTC":1,"TPX":0.9},"content_text":"(Updates with details throughout.)The US Federal Trade Commission has voted to block Tempur Sealy International's (TPX) $4 billion acquisition of Mattress Firm, the regulator said Tuesday.The Commission voted 5-0 to challenge the deal, saying it would give Tempur Sealy \"the ability and incentive to suppress competition and raise prices for mattresses for millions of consumers.\"The regulator said it has issued an administrative complaint and authorized a lawsuit in federal court to block the transaction.\"Through emails, presentations, and other deal documents, Tempur Sealy has made it abundantly clear that its acquisition of Mattress Firm is intended to kneecap competitors and dominate the market,\" Henry Liu, director of FTC Bureau of Competition said.Tempur Sealy said in a separate statement that FTC's decision does not reflect all the relevant facts and regulations. The company expects to complete the litigation process in the coming months and aims to close the deal in late 2024 or early 2025.The FTC's decision to block the deal was earlier reported by Reuters.Mattress Firm did not immediately respond to MT Newswires' requests for comment.Price: 48.39, Change: +1.18, Percent Change: +2.50","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2448162019"}