TPX - Battle Over Beds: FTC Sues To Block Tempur Sealy's $4B Bid for Mattress Firm Citing Competition Concerns | Benzinga
Tempur Sealy International, Inc. (NYSE:TPX) faces a roadblock as the Federal Trade Commission (FTC) voted unanimously to block its proposed $4 billion acquisition of Mattress Firm Group Inc.
The merger, which would combine the world’s largest mattress manufacturer with the nation’s largest mattress retailer, has raised significant competition concerns, per the regulator.
The FTC issued an administrative complaint and filed a lawsuit to halt the acquisition, alleging that Tempur Sealy’s acquisition of Mattress Firm would suppress competition and raise prices for millions of consumers.
The merger would grant the combined company enormous control over the mattress supply chain, integrating manufacturing with retail operations.
The FTC claims that Tempur Sealy plans to limit competitors’ access to Mattress Firm’s network, ...