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Home Furnishings & Furniture M&A image Home Furnishings & Furniture M&A » By The Online Investor Staff, updated Wed., May. 12, 7:45 PM Recent mergers and acquisitions in the Home Furnishings & Furniture M&A category.

Slide #12. Tempur-Pedic International Inc. Sealy Corporation

Acquirer: Tempur-Pedic International Inc. (TPX)
Acquiree: Sealy Corporation (ZZ)
Details: Tempur-Pedic International Inc. and Sealy Corporation announced that they have signed a definitive agreement to create a $2.7 billion global bedding provider. The combination brings together two highly complementary companies with iconic brands and significant opportunities for global innovation and growth. Founded in 1992, Tempur-Pedic is the leading manufacturer, marketer and distributor of premium mattresses and pillows made from its proprietary TEMPUR pressure-relieving material in over 80 countries under the Tempur and Tempur-Pedic brand names. Sealy, with roots dating back to 1881 is a leader in the manufacturing and marketing of a broad range of high quality mattresses and foundations with a portfolio of well-known bedding brands, including Sealy, Sealy Posturepedic, and Stearns & Foster. The transaction has been approved by the Boards of Directors of both companies. Stockholders holding approximately 51% of Sealy's outstanding common stock have executed a written consent approving the transaction. No additional shareholder approvals are required to complete the transaction. Tempur-Pedic will acquire all of the outstanding common stock of Sealy for $2.20 per share, representing a premium of approximately 23 percent to Sealy's 30-day average closing price on Wednesday, September 26, 2012. In addition, Tempur-Pedic will assume or repay all of Sealy's outstanding convertible and non-convertible debt, for a total transaction value of approximately $1.3 billion. The transaction, which is subject to customary closing conditions, including regulatory approvals, is expected to close during the first half of 2013.

Tempur Sealy International is engaged in designing, manufacturing and distributing bedding products. Co. has an offering of products that appeal to a range of consumers, some of which are covered by one or more patents and/or patent applications. Co.'s portfolio of product brands includes Tempur®, Tempur-Pedic®, Sealy® featuring Posturepedic® Technology, Stearns & Foster® and Comfort Revolution®. Co. operates in two segments: North America and International. These segments are business units that are managed separately based on geography.

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Tempur Sealy International is engaged in designing, manufacturing and distributing bedding products. Co. has an offering of products that appeal to a range of consumers, some of which are covered by one or more patents and/or patent applications. Co.'s portfolio of product brands includes Tempur®, Tempur-Pedic®, Sealy® featuring Posturepedic® Technology, Stearns & Foster® and Comfort Revolution®. Co. operates in two segments: North America and International. These segments are business units that are managed separately based on geography.

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Company Name: 
Tempur Sealy International, Inc.
Stock buyback: 
TPX buyback
Website: 
www.tempursealy.com
Sector: 
Home Furnishings & Furniture
Number of ETFs Holding TPX: 
67
Total Market Value Held by ETFs: 
$1.18B
Total Market Capitalization: 
$7.72B
% of Market Cap. Held by ETFs: 
15.29%
Company Name: 
Sealy Corp.
Website: 
www.sealy.com
Sector: 
Home Furnishings & Furniture
 

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