Steinhoff to sell entire stake in Mattress Firm to Tempur Sealy | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 80%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

If the deal goes ahead as planned, Steinhoff said the proceeds of the sale will be used to pay down its $10 billion debt burden. | News24_Business

NYSE-listed Tempur Sealy said on Tuesday it had signed a"definitive agreement" to acquire all Mattress Firm's issued shares for $4 billion. The sale has already been approved by the boards of both companies.

"We are excited by the long-term growth prospects for our global vertically integrated company," said Tempur Sealy chair and CEO Scott Thompson. Tempur Sealy and Mattress Firm’s combined global footprint would include approximately 3 000 retail stores and 30 e-commerce platforms. Tempur Sealy said the transaction is expected to be funded by around $2.7 billion in cash and $1.3 billion in stock for Mattress Firm's shareholders. Steinhoff will receive 45% of both. Newsletter

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EXCLUSIVE: FSCA has 75 market abuse cases open involving listed securitiesThe cases include investigations into Steinhoff, Tongaat Hulett, PPC and Ayo Technology Solutions
Source: BDliveSA - 🏆 12. / 63 Read more »

Some Steinhoff shareholders to start getting settlement cash from Wednesday | BusinessRetail shareholders of Steinhoff International who saw the value of their investments almost wiped out in the wake of its accounting scandal will start receiving settlement cash from Wednesday. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »