DALLAS and CARTHAGE, Mo. — The US antitrust waiting period for Somnigroup International’s acquisition of Leggett & Platt expired on June 3 at 11:59 p.m., according to a June 4 securities filing.

Somnigroup expects the transaction to close by year-end 2026, subject to the fulfillment or waiver of certain conditions, including the adoption of the merger agreement and approval of the merger by the shareholders of Leggett & Platt, and approvals under certain specified competition laws in Canada, the European Union, the United Kingdom, and the Republic of Korea, as well as under applicable foreign investment laws in Austria. 

In April, Somnigroup International Inc. and Leggett & Platt, Inc. signed a definitive merger agreement in which Somnigroup would acquire Leggett & Platt in an all-stock transaction valued at approximately $2.5 billion based on Somnigroup's closing share price on April 10, 2026.

Under the terms of the agreement, first proposed last December, Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they own. As a result of the transaction, Leggett & Platt's shareholders will own approximately 9% of the combined company on a fully diluted basis. The agreement has been unanimously approved by the Boards of Directors of Somnigroup and Leggett & Platt.

Following the close of the transaction, Leggett & Platt is expected to operate as a separate business unit within Somnigroup, similar to Tempur Sealy, Mattress Firm, and Dreams, and to maintain its offices in Carthage, Missouri. Leggett & Platt's Chairman and CEO, Karl Glassman, will continue to lead Leggett & Platt following the closing date and will assist with a seamless transition to a new CEO of the Leggett & Platt business unit within twelve months of the closing date.

Somnigroup and Leggett & Platt have collaborated for nearly 50 years in the bedding market. With a deep, longstanding partnership and strong cultural alignment, the companies know each other well, and the combination is expected to "further strengthen their ability to deliver innovative bedding products."

Together, after giving effect to the transaction, including elimination of intercompany sales, the combined company generated 2025 net sales of approximately $11.2 billion, approximately $1.7 billion of adjusted EBITDA, and $1.1 billion of operating cash flow. The combined company is expected to operate 175 manufacturing facilities across 36 countries worldwide, supported by a global workforce of more than 36,000 colleagues. The combined company will continue to honor Leggett & Platt's existing supply agreements with customers in the bedding industry.