Tempur-Pedic expects to complete Sealy acquisition in March

Larry Thomas -- Furniture Today, February 25, 2013

LEXINGTON, Ky. — Bedding major Tempur-Pedic said Monday it intends to complete its acquisition of rival producer Sealy Inc. by the end of March.

Tempur-Pedic said two key waiting periods expire during March, and assuming no issues are raised before those deadlines, it intends to close the acquisition once the waiting periods end.

The waiting period for a Federal Trade Commission review of the deal under the Hart-Scott-Rodino antitrust act expires March 8, while a waiting period following the mailing of an information statement to Sealy stockholders expires March 14.

Tempur-Pedic has agreed to acquire Sealy for $2.20 per share. The value of the deal is about $1.3 billion, including the assumption of Sealy's debt.