Tempur-Pedic International Inc. (TPX) and Sealy Corp. (ZZ) announced that the Federal Trade Commission has cleared the acquisition of Sealy. Tempur-Pedic intends to close the acquisition on March 18.
Tempur-Pedic will acquire all of the outstanding common stock of Sealy for $2.20 per share and all of Sealy's outstanding convertible and non-convertible debt, for a total transaction value of approximately $1.3 billion.
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