Dec. 30, 2013, 10:26 AM
- Bob's Discount Furniture changes P-E hands, going to Bain Capital from Apax Partners.
- A deal for the furniture store chain is believed to be in the neighborhood of $350M.
- The company is in an aggressive expansion mode and in some markets competes with La-Z-Boy (LZB +0.7%), Tempur Sealy (TPX +0.4%), Bassett Furniture (BSET -0.2%), Ethan Allen (ETH -0.3%), and Pier 1 Imports (PIR -0.3%).
May 23, 2013, 7:14 PM
Tempur-Pedic International (TPX) says shareholders have approved the company's name change to Tempur Sealy International, at the company's annual meetingheld yesterday. The new name recognizes the combination of Tempur-Pedic and Sealy. The shares will continue to trade on the NYSE under the symbol "TPX."| May 23, 2013, 7:14 PM
Nov. 30, 2012, 4:52 PM
Tempur-Pedic International (TPX) and Sealy Corporation (ZZ) both receive a second request from the FTC for additional information and documentary materials regarding TPX's proposed acquisition of ZZ. Completion of the transaction remains subject to customary closing conditions, but both companies continue to expect the transaction to close during H113.| Nov. 30, 2012, 4:52 PM
Sep. 27, 2012, 8:10 AM
Quick analyst take on Tempur-Pedic (TPX) buying Sealy (ZZ): The acquisition isn't a shocker, considering Tempur-Pedic needs to protect its brand and has plenty of manufacturing capacity, but could anti-trust issues crop up? The deal price of around $1.3B after factoring in debt doesn't look too pricey with leveraging opportunities in play.| Sep. 27, 2012, 8:10 AM
Sep. 27, 2012, 8:04 AM
More on the Tempur-Pedic (TPX +5.4%) / Sealy (ZZ) deal - Tempur-Pedic is paying $229M to acquire Sealy, although the whole transaction is valued at $1.3B including the Sealy debt that Tempur-Pedic has agreed to assume or repay. Having ended at $2.14 yesterday, Sealy shares spiked 10% earlier but have settled down a bit and are +4.2% to $2.23, above TPX's offer price of $2.20.| Sep. 27, 2012, 8:04 AM
Sep. 27, 2012, 7:23 AM
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.| Sep. 27, 2012, 7:23 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