Illuminati Investments • 21 Comments
Mon, Aug. 8, 1:48 AM
- Creating the world's "largest mattress distribution network," Steinhoff International Holdings (OTCPK:SNHFY) has agreed to buy Sleepy's owner Mattress Firm (NASDAQ:MFRM) for $3.8B, including debt.
- The $64 per share in cash offer represents a 115% premium to Mattress Firm's closing price of $29.74 on Friday and has been unanimously approved by the boards of both companies.
- MFRM +110% premarket
Sep. 4, 2014, 7:07 AM
- Mattress Firm (NASDAQ:MFRM) announces it acquired the equity interests of The Sleep Train bedding chain for $425M.
- Sleep Train has 310 specialty mattress stores on the West Coast.
- Mattress Firm plans to run the new stores under The Sleep Train brand name.
- A closing in Mattress Firm's FQ4 is anticipated.
Jan. 15, 2014, 8:21 AM
Sep. 6, 2012, 5:00 PM
More on Mattress Firm's FQ2: Same-store sales growth of 5% a major slowdown from FQ1's 16.1%. MFRM is acquiring Mattress X-Press, owner of 35 mattress stores in South Carolina and Georgia, for $15.8M. Mattress X-Press is expected to add $7M-$9M to 2H FY13 revenue; reduce FY13 EPS by $0.03-$0.04, and increase FY14 EPS by $0.09-$0.12. The company expects FY13 revenue of $1.022B-$1.039B and EPS of $1.47-$1.50 vs. a consensus of $1.02B and $1.49. MFRM -12.1% AH. TPX -2.5%. (PR)| Sep. 6, 2012, 5:00 PM | 1 Comment