Why Did Leggett & Platt Stock Surge 10% Pre-Market Today?
Synopsis
An acquisition proposal from Somnigroup International aims to keep Leggett & Platt operating under its own management while integrating it into a larger enterprise.
- Under the plan, Leggett & Platt investors would receive Somnigroup shares valued at $12.00 per LEG share.
- The proposal was delivered to the Leggett & Platt Board in a letter.
Somnigroup International Inc. (SGI) announced a formal proposal to acquire Leggett & Platt Inc. (LEG) through an all-stock deal that would exchange each LEG share for SGI stock valued at $12.00.
The proposal aims to keep Leggett & Platt operating under its own management while integrating it into a larger enterprise.
Deal Terms And Premium
Under the plan, Leggett & Platt investors would receive Somnigroup shares valued at $12.00 per LEG share, based on a yet-to-be-finalized exchange ratio. This represents a roughly 30.3% premium over LEG’s average closing price over the previous 30 trading days.
Following the announcement, Leggett & Platt’s stock traded over 10% higher in Monday’s premarket. The proposal was delivered to the Leggett & Platt Board in a letter on Dec. 1, 2025.
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