Tempur-Pedic (TPX) announces that it will buy fellow mattress seller Sealy (ZZ) for $2.20 a...

|About: Tempur Sealy Internationa... (TPX)|By:, SA News Editor

Tempur-Pedic (TPX) announces that it will buy fellow mattress seller Sealy (ZZ) for $2.20 a share in a deal slated to close during the first half of 2013. Under the terms of the agreement, Tempur-Pedic will assume or repay all of Sealy's outstanding convertible and non-convertible debt. Shares of ZZ +2.8% premarket to $2.20, TPX inactive.