Tempur-Pedic, Sealy receive Hart-Scott-Rodino request Tempur-Pedic International (TPX) and Sealy Corporation (ZZ) announced that on November 30 they received a request for additional information and documentary materials from the FTC regarding Tempur-Pedic's proposed acquisition of Sealy. 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 1H13.
Tempur Sealy share gains likely to continue, says BofA/Merrill BofA/Merrill said Tempur's North American sales have been impressive and gained share in Q3. The firm expects Tumpur to report earnings growth above the industry for the next two years and sees further upside from greater-than-expected Sealy synergies and debt pay down. Shares are Buy rated with a $61 price target.