More consolidation in banking.
Tempur-Pedic Buying Sealy for About $228.6M - ABC News
Mattress rivals Tempur-Pedic and Sealy are becoming bedfellows.
Tempur-Pedic, the 20-year-old leader in foam mattresses, is buying
more-than-a century-old rival Sealy for about $228.6 million in cash.
The acquisition comes as competition has increased in the mattress
industry, with makers stepping up their marketing and promotions to help
lure cost-conscious consumers into making big purchases.
Tempur-Pedic International Inc. said Thursday that it will pay $2.20 per
Sealy share, which is a 3 percent premium to the company's Wednesday
closing price of $2.14.
No comments:
Post a Comment