Somnigroup proposes to acquire Leggett & Platt for $12.00 per share

Somnigroup (SGI) announced that it submitted a proposal to the board of directors of Leggett & Platt (LEG) to acquire all outstanding common shares of Leggett & Platt in an all-stock transaction. Under the terms of the Proposal, Leggett & Platt shareholders would receive shares of Somnigroup common stock with a market value of $12.00 for every one share of Leggett & Platt common stock, based on a fixed exchange ratio to be agreed. The proposal offers Leggett & Platt shareholders a 30.3% premium to the average closing price of Leggett & Platt’s shares during the last 30 trading days, representing a value not achieved by shares since December 2024.