Tempur Sealy's $4 billion purchase of Mattress Firm challenged by FTC

Tempur Sealy's proposed $4 billion acquisition of Mattress Firm is getting challenged by the Federal Trade Commission, the antitrust agency announced on Tuesday.The FTC unanimously voted to go to federal court to stop the country's biggest mattress maker from merging with the largest bedding retailer, saying the combined company would have 'the ability and incentive to suppress competition and raise prices for mattresses for millions of consumers.

Tempur Sealy dismissed the FTC's concerns in a statement, saying 'we continue to believe the combination of Tempur Sealy and Mattress Firm will unlock incremental benefits for all stakeholders, particularly consumers.' Lexington, Kentucky-based Tempur Sealy said it believes the merger, announced in May of 2023, will survive the FTC's court challenge, allowing the transaction to close late this year or in early 2025.

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