FTC challenges Tempur Sealy's Mattress Firm acquisition; company vows to litigate

SOMNIGROUP INTERNATIONAL INC.

FTC announced it will file complaint and seek preliminary injunction to block Tempur Sealy's proposed acquisition of Mattress Firm.
Tempur Sealy expressed disappointment and believes FTC's perspective does not reflect all facts and law; will defend transaction in court.
Company offered commitments: multi-branded retail, slot guarantees for third-party manufacturers, and store divestiture to address FTC concerns.
Transaction expected to close in late 2024 or early 2025 if litigation is successful.

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