Somnigroup $1.6B Leggett & Platt bid: $12 all-stock terms

Somnigroup $1.6B Leggett & Platt bid outlines a $12 per share offer in stock. The somnigroup all-stock merger would value the company at about $1.6 billion, according to company announcements and Bloomberg.

“We propose that Somnigroup acquire all of the outstanding shares of Leggett & Platt in an all-stock merger,” the bidder wrote. Additionally, shareholders would receive stock valued at $12 per share. Moreover, the proposal highlights a 30.3% premium leggett & platt to its 30‑day average and roughly 17% to the Nov. 28 close.

Furthermore, Somnigroup asked for a reply by the december 22 2025 response deadline. The offer uses a fixed exchange ratio to be agreed during diligence and talks.

How Leggett & Platt responded to the unsolicited proposal

Leggett & Platt confirmed it received an unsolicited, non‑binding leggett & platt acquisition proposal. The company said the exchange ratio is “to be agreed” and that due diligence is pending.

Additionally, the board will review the proposal with independent advisors. For now, shareholders were told to take no action.

Approvals, contingencies, and advisors on both sides

Closing would require approval from Leggett & Platt shareholders and regulatory clearances. However, the somnigroup all-stock merger carries no financing contingency and needs no Somnigroup shareholder vote, according to the bidder.

Moreover, the parties named advisors. Somnigroup retained Goldman Sachs and Cleary Gottlieb. Meanwhile, Leggett & Platt engaged J.P. Morgan and Latham & Watkins.

Market reaction: Somnigroup $1.6B Leggett & Platt bid lifts LEG shares

LEG rose in U.S. premarket trading after the news became public. Bloomberg reported a gain of about 14%, to $11.70, as investors assessed the $12 per share offer.

Additionally, traders weighed the 30.3% premium leggett & platt highlighted in the release. Consequently, the stock reacted before any definitive agreement or exchange ratio was finalized.

Timeline: Somnigroup $1.6B Leggett & Platt bid key dates

Somnigroup delivered its proposal on December 1, 2025. Leggett & Platt said Somnigroup did not engage before November 30.

Moreover, the bidder requested a reply by the december 22 2025 response deadline. Meanwhile, disclosure of the leggett & platt acquisition proposal prompted an immediate market move.

Post-deal operating plan for Leggett & Platt

Somnigroup said Leggett & Platt would continue operating independently within its umbrella. Additionally, the leadership team would retain significant autonomy, according to the proposal and trade press coverage.

Furthermore, the plan suggests continuity for customers and suppliers. It also signals an integration approach focused on governance oversight rather than day‑to‑day control.

What’s Next: review, response, and regulatory steps

The board’s review and due diligence will precede any negotiations on the exchange ratio and terms. A formal response is anticipated around the december 22 2025 response deadline.

If both parties proceed, regulatory review would follow, as would a vote by Leggett & Platt shareholders. For now, the leggett & platt acquisition proposal remains non‑binding. Consequently, the Somnigroup $1.6B Leggett & Platt bid will hinge on diligence, valuation, and market conditions.