Tempur Sealy International Inc

NYSE:TPX   3:59:56 PM EDT
38.55
-0.27 (-0.70%)
Debt Financing / Related, Other Pre-Announcement, Mergers / Acquisitions

Tempur Sealy To Acquire Dreams, Uk's Leading Specialty Bed Retailer

Published: 05/27/2021 11:12 GMT
Tempur Sealy International Inc (TPX) - Tempur Sealy to Acquire Dreams, Uk's Leading Specialty Bed Retailer.
Tempur Sealy - Transaction Price is About $475 Million, Less Net Debt and Any Working Capital Deficit.
Tempur Sealy - Transaction is Expected to Be Accretive to Co's EPS by About $0.20 Before Synergies in First Year Post-acquisition.
Tempur Sealy - Dreams Will Be Operated As an Independent Business Unit and Led by Current Management Team.
Tempur Sealy - Transaction Will Be Financed Through a Combination of Cash on Hand and Bank Borrowings.
Tempur Sealy - Entered Into an Amendment of Its Senior Credit Facility Which Increases Its Liquidity by $300 Million.
Tempur Sealy - Dreams is Expected to Generate Annual Sales of About $450 Million in First Year Post-acquisition.
Tempur Sealy - After Deal Closes, Co's Annualized Worldwide Direct-to-consumer Business is Expected to Reach $1 Billion in Sales.