Tempur-Pedic (TPZ), Sealy (ZZ) Get 2nd Request for Info Under HSR Act
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Tempur-Pedic International Inc. (NYSE: TPX), a leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, and Sealy Corporation (NYSE: ZZ), a leading global bedding manufacturer, announced today that on November 30, 2012 they received a request for additional information and documentary materials (a "Second Request") from the Federal Trade Commission ("FTC") regarding Tempur-Pedic's proposed acquisition of Sealy. The information request was issued under notification requirements of the Hart-Scott-Rodino ("HSR") Antitrust Improvements Act of 1976.
The effect of the Second Request is to extend the waiting period imposed by the Act until 30 days after each Company has substantially complied with the Second Request, unless that period is extended voluntarily by the companies or terminated sooner by the FTC. The companies noted that 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.
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The effect of the Second Request is to extend the waiting period imposed by the Act until 30 days after each Company has substantially complied with the Second Request, unless that period is extended voluntarily by the companies or terminated sooner by the FTC. The companies noted that 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.
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