Simpson Thacher is representing Mattress Firm Group Inc. in connection with its announced agreement to be acquired by Tempur Sealy International, Inc. in a transaction valued at approximately $4 billion. The transaction is expected to close in the second half of 2024, subject to the satisfaction of customary closing conditions, including applicable regulatory approvals. The transaction has been approved by the boards of directors of Tempur Sealy and Mattress Firm, and Mattress Firm shareholders holding more than 80% of the outstanding shares in Mattress Firm. The Transaction does not require Tempur Sealy shareholder approval. Tempur Sealy and Mattress Firm received a request for additional information and documentary materials from the Federal Trade Commission regarding the proposed acquisition.
Mattress Firm is the largest mattress specialty retailer in the United States, operating over 2,300 brick-and-mortar retail locations and a growing e-commerce platform. Tempur Sealy is a designer, manufacturer, distributor and retailer of bedding products globally, with a presence in over 100 countries. Together, Tempur Sealy and Mattress Firm’s combined global footprint will include approximately 3,000 retail stores, 30 e-commerce platforms, 71 manufacturing facilities and four state-of-the-art R&D facilities worldwide.
The Simpson Thacher team includes Roxane Reardon, Jonathan Corsico, Marisa Stavenas, Sean Dougherty, John Dougherty, Kuai Yu, Lawrence Ekin, Tobi Olajubu, Rachel Lerman and Nicolle Heagney (Corporate); Sara Razi, Preston Miller, Lindsey Bohl, Nicholas Ingros and Christopher Kraft (Antitrust); Andrew Blau, Alisa Tschorke, Charles Pfeifer and Meredith Brenton (ECEB); Sophie Staples, William Smolinski and Lina Pan (Tax); Lori Lesser, Melanie Jolson and Rachelle Broida (IP); Krista McManus (Real Estate); Toby Chun and Deepa Sarkar (Environmental); and Christopher Brown and Noah DeBlasi (Banking & Credit).