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Story summary
- Somnigroup, the acquiring company, will acquire Leggett & Platt in an all-stock deal valued at $2.5 billion, expanding from bedding into components for cars.
- Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup stock for each Leggett & Platt share, giving them about 9% of the combined company.
- The deal concludes a months-long effort by Somnigroup to secure a key supplier for its operations.
