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Leggett & Platt to acquire Elite Comfort Solutions for $1.25B

Nov. 07, 2018 11:01 AM ETLeggett & Platt, Incorporated (LEG) StockBy: Vandana Singh, SA News Editor11 Comments
  • Leggett & Platt (NYSE:LEG +0.4%) agrees to acquire Elite Comfort Solutions or ECS for $1.25B; the acquisition will potentially expand LEG's presence in specialty foam and hybrid boxed bed market segment
  • ECS generated $611M in annual sales; EBITDA margins accretive to the company average
  • ECS will have slight negative impact on consolidated EBIT margins; however, the acquisition is expected to be neutral to EPS in 2019 and accretive to EPS from 2020
  • The transaction will be be financed with expanded commercial paper program and $500M 5-year term loan
  • The deal is expected to close in January 2019.

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