Somnigroup to Acquire Leggett & Platt in $2.5 Billion All-Stock Deal

Summary

Somnigroup International Inc. has announced an agreement to acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion. Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt common stock they own. The transaction, expected to close by year-end 2026, is subject to shareholder approval and regulatory clearance. The acquisition aims to enhance Somnigroup's vertical integration strategy, expand addressable markets, reduce financial leverage, and drive immediate adjusted EPS accretion. The deal also presents meaningful synergy opportunities, with an expected net positive impact on adjusted EBITDA of $50 million on a fully implemented annual run-rate basis.