Strategic Acquisition Boost: Somnigroup's Buy Rating on Leggett & Platt DealWe are in favor of the deal, particularly at the $12 price point, and at a high level, we believe this deal should be accretive to $0.25 range, with additional upside from synergies around scale and operational efficiencies. We also believe there are competitive dynamics that make the acquisition appealing as well, as the company continues to extend its dominance across all levels of the mattress and bedding space. In our view, the biggest risk would be too many irons in the fire as Somnigroup also focuses on ramping up synergies from the Mattress Firm acquisition. However, Somnigroup's plans to keep the businesses relatively autonomous should minimize integration risks, and the company’s long-standing partnerships and management’s history of collaboration together should provide an additional layer of stability.