Somnigroup Proposes to Buy Leggett & Platt for About $1.6 Billion

Dow Jones12-01

By Connor Hart

Somnigroup International submitted a proposal to acquire Leggett & Platt in an all-stock deal worth approximately $1.63 billion.

The mattress maker, formed from Tempur-Sealy's acquisition of Mattress Firm, said Monday that it would purchase all of Leggett & Platt's outstanding shares for $12 apiece. The price represents a roughly 30% premium to the company's average closing price over the past 30 days, it added.

The all-stock structure would enable Leggett & Platt shareholders to participate in the future growth potential of the combined company on a tax-deferred basis, according to Somnigroup.

Shares of Leggett & Platt jumped 10%, to $11.30, in premarket trading.

Leggett & Platt makes furniture, engineered components and products for homes, offices, automobiles and commercial aircraft. Somnigroup Chief Executive Scott Thompson said the Carthage, Mo., company has been an important supplier for many years.

Under the deal, Leggett & Platt would continue to operate independently under the Somnigroup umbrella. Somnigroup said the company would benefit from having a substantial and reliable customer in Tempur Sealy, as well as a lower cost of capital and strategic backing.

Somnigroup would expect to retain most of Leggett & Platt's management team and employees, as well as a significant presence in Carthage.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

December 01, 2025 07:05 ET (12:05 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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The price represents a roughly 30% premium to the company's average closing price over the past 30 days, it added.The all-stock structure would enable Leggett & Platt shareholders to participate in the future growth potential of the combined company on a tax-deferred basis, according to Somnigroup.Shares of Leggett & Platt jumped 10%, to $11.30, in premarket trading.Under the deal, Leggett & Platt would continue to operate independently under the Somnigroup umbrella. 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The price represents a roughly 30% premium to the company's average closing price over the past 30 days, it added. \n\n\n  The all-stock structure would enable Leggett & Platt shareholders to participate in the future growth potential of the combined company on a tax-deferred basis, according to Somnigroup. \n\n\n  Shares of Leggett & Platt jumped 10%, to $11.30, in premarket trading. \n\n\n  Leggett & Platt makes furniture, engineered components and products for homes, offices, automobiles and commercial aircraft. Somnigroup Chief Executive Scott Thompson said the Carthage, Mo., company has been an important supplier for many years. \n\n\n  Under the deal, Leggett & Platt would continue to operate independently under the Somnigroup umbrella. 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