FTC Requests More Info on Tempur-Pedic, Sealy DealDecember 3, 2012
The Federal Trade Commission has requested additional information from bedding suppliers Tempur-Pedic International (NYSE: TPX) and Sealy Corp. (NYSE: ZZ) in regard to Tempur-Pedic's proposed acquisition of Sealy.
The information request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Because of the request, the waiting period will be extended until 30 days after each company has complied with the request.
In a press release, the companies said 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.