Stellenbosch - August 7, 2016 - Steinhoff (FRANKFURT: SNH) and Mattress
Firm (NASDAQ: MFRM) today announced that they have entered into a
definitive merger agreement under which Steinhoff will, subject to the
successful consummation of a cash tender offer, acquire Mattress Firm for
$64.00 per share in cash. This represents a total equity value of
approximately $2.4 billion and an enterprise value for Mattress Firm of
approximately $3.8 billion including net debt.
The investment in Mattress Firm will create the world's largest multi-brand
mattress retail distribution network and facilitate Steinhoff's entry into
the U.S. Similar to the European retail mattress market, where Steinhoff is
a leader, the North American mattress industry has demonstrated long term
stability and consistent growth. Mattress Firm represents an attractive
investment proposition to Steinhoff through its national footprint and
leadership in the U.S. mattress retail market.
The acquisition price is a premium of 115% to Mattress Firm's closing price
of $29.74 per share at the close of trading on August 5, 2016. The
transaction has been unanimously approved by the board of directors of
Mattress Firm and the management and supervisory boards of Steinhoff.
Stuipd German Money MoneyStupid Dutch Money . Sind die wahnsinnig?
Werd ich morgen gleich mal shorten...
|aus der Diskussion:||Steinhoff International|
|Autor (Datum des Eintrages):||ArminBrack (07.08.16 22:30:59)|
|Beitrag:||6 von 51,873 (ID:53009374)|
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