Leggett & Platt gains after Somnigroup's $2.5 bln buyout deal

Somnigroup International

13/04/2026 12:04

** Shares of diversified manufacturer Leggett & Platt LEG.N gain 7.3% to $10.79 in premarket trading

** Co to be acquired by Somnigroup SGI.N in an all-stock transaction valued at about $2.5 bln

** LEG's current market capitalization stands at $1.36 bln, as per LSEG data as of last close

** Shareholders to receive about 0.15 share of SGI for every LEG share they hold; to own about 9% of combined co

** LEG had declined SGI's $12-per-share proposal in January; deal expected to close later this year

** LEG stock down over 9% YTD, till last close, while SGI has lost over 12%

 (Reporting by Purvi Agarwal in Bengaluru)

 ((Purvi.Agarwal@thomsonreuters.com;))