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...Tempur Sealy International, which announced the acquisition alongside first-quarter results on Tuesday, said the deal comprises $2.7bn in cash and $1.3bn in stock....
...Steinhoff will at least be able to use the $1.2bn cash it will receive from Tempur Sealy to pay some of the debt (it will also own 7.5 per cent of the merged group)....
...Both listed mattress makers Tempur Sealy and Sleep Number reported falling sales and profits in their most recent quarters to September....
...“We’re seeing the high-end consumer continuing to hang in there [but] the low-end consumer has been where a lot of the deterioration has been,” Scott Thompson, CEO of mattress maker Tempur Sealy International...
...Shareholders of Tempur-Pedic must have slept easily on Thursday night, after the company announced the purchase of rival Sealy....
...Tempur-Pedic International, the high-end mattress maker, will acquire rival Sealy in a transaction valued at $1.3bn, including debt, a deal that will create the US industry’s largest bedding company....
...During the day’s session, Tempur-Pedic made hefty gains after the mattress company said it would acquire its smaller rival, Sealy , in a deal valued at $1.3bn, including debt, to form one of the world’s...
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