Tempur-Pedic and Sealy Receive Hart-Scott-Rodino Request for
Additional Information
LEXINGTON, Ky. and
TRINITY, N.C., Nov. 30, 2012 /PRNewswire/ -- Tempur-Pedic
International Inc. (NYSE: TPX), a leading manufacturer, marketer
and distributor of premium mattresses and pillows worldwide, and
Sealy Corporation (NYSE: ZZ), a leading global bedding
manufacturer, announced today that on November 30, 2012 they received a request for
additional information and documentary materials (a "Second
Request") from the Federal Trade Commission ("FTC") regarding
Tempur-Pedic's proposed acquisition of Sealy. The information
request was issued under notification requirements of the
Hart-Scott-Rodino ("HSR") Antitrust Improvements Act of 1976.
The effect of the Second Request is to extend the waiting period
imposed by the Act until 30 days after each Company has
substantially complied with the Second Request, unless that period
is extended voluntarily by the companies or terminated sooner by
the FTC. The companies noted that they intend to respond to the
information request and to continue to work cooperatively with the
FTC in connection with this review. Completion of the transaction
remains subject to the expiration or termination of the waiting
period under the HSR Act and satisfaction of other customary
closing conditions. Tempur-Pedic and Sealy continue to expect the
transaction to close during the first half of 2013.
About Tempur-Pedic
Tempur-Pedic International Inc.
(NYSE: TPX) manufactures and distributes mattresses and pillows
made from its proprietary TEMPUR(R) pressure-relieving material. It
is the worldwide leader in premium and specialty sleep. The Company
is focused on developing, manufacturing and marketing advanced
sleep surfaces that help improve the quality of life for people
around the world. The Company's products are currently sold in over
80 countries under the TEMPUR(R) and Tempur-Pedic(R) brand names.
World headquarters for Tempur-Pedic International is in
Lexington, KY. For more
information, visit http://www.tempurpedic.com or call
800-805-3635.
About Sealy
Sealy owns one of the largest bedding
brands in the world, with sales of $1.2
billion in fiscal 2011. The company manufactures and markets
a broad range of mattresses and foundations under the Sealy®, Sealy
Posturepedic®, Sealy Embody™, Optimum™ by Sealy Posturepedic®,
Stearns & Foster®, and Bassett® brands. Sealy operates 25
plants in North America, and has
the largest market share and highest consumer awareness of any
bedding brand on the continent. In the
United States, Sealy sells its products to approximately
3,000 customers with more than 11,000 retail outlets. Sealy is also
a leading supplier to the hospitality industry. For more
information, please visit www.sealy.com.
SOURCE Tempur-Pedic International Inc.