Fairfax to buy retailer Sleep Country in $1.24 bln deal (updated)

Sleep Country Canada Holdings

22/07/2024 12:39

(Adds premium in paragraph 2)
       July 22 (Reuters) - Sleep Country Canada Holdings
 ZZZ.TO  on Monday agreed to be acquired by a unit of insurer
Fairfax Financial  FFH.TO  in a deal valued at C$1.7 billion
($1.24 billion).  
    The acquisition price of C$35 per share marks a 28% premium
to Sleep Country's last close. 
        Sleep Country, which sells mattresses, pillows and
sheets, operates 307 corporate-owned stores and 18 warehouses
across Canada. 
        
  
($1 = 1.3744 Canadian dollars)

 (Reporting by Manya Saini and Niket Nishant in Bengaluru;
Editing by Shailesh Kuber)
 ((Manya.Saini@thomsonreuters.com; X: manya__saini;))