The chairman of Somnigroup International says his company’s proposed acquisition of leading supplier Leggett & Platt would drive “mutual learning and shared growth” for the two bedding giants.
Scott Thompson, chairman and CEO of SGI, says the two companies are a good fit.
“Leggett’s world-class manufacturing skills, customer-focused culture, and commitment to long-term shareholder value align very well with Somnigroup,” he told Bedding News Now. “We believe this proposed combination will be a catalyst for mutual learning and shared growth, driving operational excellence that will benefit our customers, employees, and shareholders alike.”
Leggett & Platt, meanwhile, pledged to “carefully review and evaluate” SGI’s proposal, which caught the industry off guard when it was announced earlier this week.
L&P, the country’s largest innerspring supplier, confirmed that it received an unsolicited proposal from Somnigroup International 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,” L&P said in a statement.
It added: “Somnigroup did not engage with the company prior to Nov. 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 said it does not intend to comment further on Somnigroup’s proposal until its board has completed its review. It added that 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 company noted.
