Mergers & Acquisitions ·
Somnigroup International completed its acquisition of Leggett & Platt on August 26, 2026, in an all-stock transaction…
SGISomnigroup International Inc.
Somnigroup International completed its acquisition of Leggett & Platt on August 26, 2026, in an all-stock transaction valued at approximately $2.3 billion based on the closing share price of $0.1455 Somnigroup shares per Leggett & Platt share. The deal reduces net leverage to roughly 2.8 times adjusted EBITDA and upsizes annual synergy targets to $75 million from an initial $50 million estimate. Former Leggett & Platt shareholders will hold approximately 9% of the combined entity on a fully diluted basis, which now operates over 170 manufacturing facilities across 37 countries with more than 36,000 employees. Tyson Hagale was appointed President of Leggett & Platt effective immediately to oversee operations as part of the integration. Somnigroup is the world's leading bedding company, providing sleep solutions through brands such as Tempur-Pedic and Mattress Firm.