Leggett & Platt Enters Non-Disclosure Agreement With Suitor Somnigroup

Leggett & Platt

LEG

increase; green up pointing triangle has opened the door to a possible takeover by Somnigroup SGI 2.70%increase; green up pointing triangle International despite knocking back the bedding company’s roughly $1.63 billion offer as too low.

Leggett said Tuesday it entered a nondisclosure agreement and six-month standstill with Somnigroup to help with the due diligence process and determine whether a deal can be reached.