Leggett & Platt (LEG) Surges 13% on $2.5B Acquisition Deal by Somnigroup International

Leggett & Platt (LEG) shares jumped 13% on April 13, 2026, after Somnigroup International announced a $2.5 billion deal to acquire the diversified manufacturer, offering investors a significant premium in one of the year's largest industrial takeovers. Somnigroup, the parent company of Tempur Sealy rival Serta Simmons Bedding, is acquiring Leggett & Platt in a transaction that underscores consolidation momentum in the bedding and furniture components sector. The deal values LEG at a substantial premium to its recent trading range, which had been pressured by weak consumer demand and restructuring challenges. Leggett & Platt, a key supplier of springs, frames, and components to furniture and bedding manufacturers, had been exploring strategic alternatives amid declining revenues. The acquisition provides an exit for shareholders following a prolonged period of underperformance. Deal closure is subject to regulatory approval and shareholder vote; terms and expected closing timeline were not immediately disclosed.