Leggett & Platt Inc (LEG) News & EventsLEGLeggett & Platt Inc

Somnigroup Completes Merger with Leggett & Platt Valued at Approximately $2.3B

Somnigroup International (SGI) announced that it has completed its previously announced combination with Leggett & Platt (LEG). The combined company today operates over 170 manufacturing facilities across 37 countries worldwide and is supported by a global workforce of more than 36,000 colleagues. Chairman and CEO Scott Thompson said, "Today marks an exciting milestone for Somnigroup as we complete the combination with Leggett & Platt. Building on nearly 50 years of collaboration, we are bringing together complementary businesses with shared values and a commitment to customer service and product innovation." The combination was an all-stock transaction valued at approximately $2.3B based on Somnigroup's closing share price on August 25, 2026 and inclusive of Leggett & Platt's existing indebtedness. Leggett & Platt shareholders received 0.1455 shares of Somnigroup common stock in exchange for each share of Leggett & Platt common stock they owned. Upon completion of the transaction, former Leggett & Platt shareholders own approximately 9% of the combined company on a fully diluted basis. The transaction has reduced Somnigroup's net financial leverage by approximately 0.2 times, and Somnigroup expects to further reduce its leverage towards the midpoint of its target leverage range of 2.0 to 3.0 times adjusted EBITDA by year-end. The company has identified $75M in annual run-rate synergies, up from its initial estimate of $50M, and expects to provide further detail on synergy realization on its business update call.

Leggett & Platt Shareholders Approve Merger with Somnigroup

In a regulatory filing, Leggett & Platt (LEG) announced that its shareholders voted to approve the merger of the company with Somnigroup (SGI). The merger remains subject to a remaining required regulatory approval and the company anticipates that the transaction will close upon satisfaction of the remaining closing conditions, it stated.

Leggett Dynamics Launches Mid-Class Massage System, Enhancing Massage Experience Beyond Luxury Vehicles

Leggett Dynamics launched its Mid-Class Massage System, a non-electronic innovation that makes premium massage more accessible beyond the luxury vehicle segment. Now in production with a global OEM, MCM was also shortlisted for the 2026 Auto Tech Partnership Award for industry-leading innovation and collaboration. MCM creates a distinctive massage experience with a compact 30 x 35 mm module that uses the Coanda effect, an air jet's natural tendency to follow a curved surface. With no electronics or moving parts, it reduces complexity and cost, making a premium experience accessible to more vehicle segments and consumers.