Tempur-Pedic International (TPX) announced Thursday morning that it agreed to acquire Sealy Corp. (ZZ) for $2.20 per share in deal valued at about $1.3 billion. The deal is expected to close during the first half of 2013.
Tempur-Pedic International gapped open sharply higher Thursday and climbed in early trade. The stock settled into a range for the bulk of the session and closed up by 3.86 at $30.64, with volume at over a 3-month high. Tempur-Pedic rebounded from a week and a half long decline.
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