Somnigroup completes $2.3 billion Leggett & Platt combination
Reuters2026/08/26 16:40- Somnigroup completed its all-stock combination with Leggett & Platt, valuing the deal at about USD 2.3 billion including indebtedness.
- Leggett & Platt holders received 0.1455 Somnigroup shares per share, ending with about 9% of the combined company fully diluted.
- Net leverage at close was about 2.8x adjusted EBITDA, down about 0.2x, with a target move toward 2.0x–3.0x by year-end.
- Annual run-rate synergy target increased to USD 75 million from USD 50 million.
- Leggett & Platt becomes a new segment; expected annualized non-cash expense includes about USD 50 million in COGS and USD 10 million in interest expense.
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