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Somnigroup Completes All-Stock Acquisition of Leggett & Platt

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Somnigroup International (SGI) said Wednesday it has completed the business combination with Leggett & Platt (LEG) in a transaction valued at approximately $2.3 billion.

Leggett & Platt shareholders received 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt, according to a statement.

Upon completion of the transaction, former Leggett & Platt shareholders own approximately 9% of the combined company on a fully diluted basis, the company added.

Also, Somnigroup said it has appointed Tyson Hagale as President of Leggett & Platt, starting immediately.

Price: $63.41, Change: $-0.68, Percent Change: -1.06%

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