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Somnigroup offers to acquire Leggett & Platt in a stock deal with a 30% premium.
Somnigroup International has proposed acquiring Leggett & Platt in an all-stock deal offering 12 shares of Somnigroup for each Leggett & Platt share, a 30.3% premium.
The merger aims to combine two companies with a long-standing business relationship, creating strategic synergies.
Leggett & Platt is expected to respond by December 22.
Somnigroup shares rose 0.9% to $91.52, while Leggett & Platt jumped 9.22% to $11.20 in pre-market trading.
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Somnigroup ofrece adquirir Leggett & Platt en un acuerdo de compra de acciones con una prima del 30%.