The Federal Trade Commission (FTC) has taken legal action to block the planned $4 billion purchase of Mattress Firm by Tempur Sealy.
Tempur Sealy (TPX), which includes well-known brands like Tempur-Pedic®, Sealy®, and Stearns & Foster®, announced the planned acquisition in May 2023. Following the announcement, Tempur Sealy shares rose by 2.4%.
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FTC Blocks Deal
The FTC has issued an administrative complaint and authorized a federal lawsuit to prevent the deal.
The regulator argues that the acquisition would allow Tempur Sealy, the world’s largest mattress supplier and manufacturer, to “suppress competition” and increase mattress prices for millions of consumers.
The FTC’s statement highlighted concerns about potential market domination and anti-competitive practices.
