Tempur-Pedic Acquisition of Sealy Expected to Close in March

February 24, 2013  by in UnCategorized   

By Home Furnishings Business in Bedding on February 25, 2013

Bedding supplier Tempur-Pedic International (NYSE: TPX) posted an update to investors regarding its impending acquisition of Sealy Corp. (NYSE: ZZ)

The deal is now expected to close next month.

According to the release, Sealy's information statement has been cleared by the Securities and Exchange Commission and was mailed to shareholders Friday.

Under the merger agreement, the mailing must occur at least 20 days prior to closing of the deal. This step is expected to be satisfied March 14. With respect to Hart-Scott-Rodino clearance, the extended waiting period for Federal Trade Commission review expires March 8.

The proposed closing next month is contingent on the HSR clearance.