Leggett & Platt jumps after Somnigroup's acquisition proposal

Somnigroup International

01/12/2025 12:22

** Shares of diversified manufacturer Leggett & Platt LEG.N rise 9.4% to $11.22 premarket after Somnigroup International's SGI.N all-stock acquisition proposal

** LEG shareholders to receive SGI common stock valued at $12 under the proposal, for every LEG share they hold

** Offer represents a premium of over 16% to LEG's last close of $10.26; stock logged its eighth session of gains, its longest win streak since October 2019

** LEG had a market capitalization of $1.39 bln, as of Friday's close, while SGI was at $19.21 bln - data compiled by LSEG

** All four analysts covering LEG stock rate it "hold" - data compiled by LSEG

** Up to last close, LEG shares up 6.9%​ YTD

 (Reporting by Anastasiia Kozlova in Gdansk)

 ((Anastassia.Kozlova@thomsonreuters.com))