BUZZ-Leggett & Platt jumps after Somnigroup's acquisition proposal

Reuters
12/01
BUZZ-Leggett & Platt jumps after Somnigroup's acquisition proposal

** Shares of diversified manufacturer Leggett & Platt LEG.N rise 9.4% to $11.22 premarket after Somnigroup International's SGI.N all-stock acquisition proposal

** LEG shareholders to receive SGI common stock valued at $12 under the proposal, for every LEG share they hold

** Offer represents a premium of over 16% to LEG's last close of $10.26; stock logged its eighth session of gains, its longest win streak since October 2019

** LEG had a market capitalization of $1.39 bln, as of Friday's close, while SGI was at $19.21 bln - data compiled by LSEG

** All four analysts covering LEG stock rate it "hold" - data compiled by LSEG

** Up to last close, LEG shares up 6.9%​ YTD

(Reporting by Anastasiia Kozlova in Gdansk)

((Anastassia.Kozlova@thomsonreuters.com))

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