Somnigroup Completes Combination with Leggett & Platt
Somnigroup has completed its all-stock acquisition of Leggett & Platt, a deal valued at approximately $2.3 billion inclusive of debt. The combination immediately reduces net leverage to roughly 2.8 times adjusted EBITDA and upsizes the expected annual run-rate synergies to $75 million, up from the initial $50 million estimate.
Key figures
- Guidance
- Annual run-rate synergies of $75 million (upsized from $50 million); net leverage reduced to approx. 2.8x adjusted EBITDA.
- Deal Value Usd
- 2300000000
- Countries
- 37
- Workforce
- 36000
- Exchange ratio
- 0.1455 shares of Somnigroup common stock per share of Leggett & Platt common stock
- Manufacturing facilities
- 170
- Non cash expense fair value bonds
- 10000000
- Non cash expense fair value business
- 50000000
- Ownership percent former shareholders
- 9%
AI analysis
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