Leggett & Platt Acquisition by Somnigroup Clears HSR Hurdle, Expected to Close by Year-End
LEG sits 24% above its 52-week low of $7.86.
Summary
The Hart-Scott-Rodino (HSR) antitrust waiting period for Somnigroup's acquisition of Leggett & Platt has expired, removing a key regulatory hurdle for the transaction. This news follows the 8-K and 425 filings earlier today by Leggett & Platt, which also announced the HSR expiration. The expiration of the HSR waiting period is a significant step towards completing the acquisition, reducing regulatory risk and increasing the certainty of the deal closing. The company expects the acquisition to close by year-end 2026, pending shareholder approval and other foreign regulatory clearances.
At the time of this announcement, LEG was trading at $9.75 on NYSE in the Manufacturing sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $7.86 to $13.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.