(From Leggett & Platt)Leggett & Platt confirmed that it has received an unsolicited proposal from Somnigroup International Inc. (NYSE: SGI) ("Somnigroup") to acquire all the outstanding shares of Leggett & Platt in an all-stock transaction.
Somnigroup's proposal states that the exchange ratio is "to be agreed" and that the proposal is non-binding and subject to due diligence. Somnigroup did not engage with the Company prior to November 30, 2025 with respect to its proposal.
The Leggett & Platt Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and evaluate the unsolicited proposal to determine the course of action that it believes is in the best interests of the Company and its shareholders.
Leggett & Platt does not intend to comment further on Somnigroup's proposal until the Board has completed its review. Leggett & Platt shareholders do not need to take any action at this time.
J.P. Morgan Securities LLC is serving as financial advisor to Leggett & Platt and Latham & Watkins LLP is serving as its legal advisor.
The Leggett & Platt Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and evaluate the unsolicited proposal to determine the course of action that it believes is in the best interests of the Company and its shareholders.
Leggett & Platt does not intend to comment further on Somnigroup's proposal until the Board has completed its review. Leggett & Platt shareholders do not need to take any action at this time.
J.P. Morgan Securities LLC is serving as financial advisor to Leggett & Platt and Latham & Watkins LLP is serving as its legal advisor.
Somnigroup confirms offer to buy Leggett & Platt in straight share swap
This has been along time coming, thank the executives for screwing it up, plant will be closed in less than 2 years after selling… Consequences of greed.
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