India, April 13 -- Bedding provider Somnigroup International Inc. (SGI) Monday announced a definitive agreement to acquire Leggett & Platt, Inc. (LEG) in a transaction worth $2.5 blillion. The combination is expected to be accretive to adjusted earnings per share before synergies in the first year. The transaction is currently expected to be closed by end of 2026.
As per the agreement, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they own. Leggett & Platt's shareholders will own approximately 9 percent of the combined company on a fully diluted basis.
Leggett & Platt is a diversified manufacturer that designs and produces a broad variety of en...