Tempur Sealy International, Inc. has filed a complaint in the U.S. District Court for the Southern District of Texas, seeking to block the Federal Trade Commission's (FTC) administrative proceedings that challenge its merger with Mattress Firm Group Inc. The company argues that the FTC's separate administrative actions infringe on constitutional protections, as a federal court case is already in progress.
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The FTC is contesting Tempur Sealy's acquisition of Mattress Firm, with a court hearing set for November 12, 2024, expected to last two weeks. Scott Thompson, Chairman and CEO of Tempur Sealy, emphasised the competitive nature of the bedding industry, which includes numerous physical stores and a robust online market. He believes that merging with Mattress Firm will enhance consumer benefits, foster product innovation, improve customer experiences, and strengthen the company's financial position.
Tempur Sealy remains optimistic about successfully navigating the litigation process, anticipating that the merger could close by late 2024 or early 2025, in line with previous expectations.
Source: www.bigfurnituregroup.com