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Stock impact report

Why Is Leggett & Platt (LEG) Stock Soaring Today [Yahoo! Finance]

Somnigroup International Inc. (SGI) 
Company Research Source: Yahoo! Finance
by Somnigroup International in an all-stock transaction valued at approximately $2.5 billion. The two companies announced the signing of a definitive agreement for the deal. Under the terms, Leggett & Platt shareholders were set to receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt they owned. This arrangement resulted in Leggett & Platt shareholders owning about 9% of the combined company. The deal also included expected annual cost savings of $50 million, which were anticipated to be fully realized within three years. After the initial pop the shares cooled down to $11.70, up 4% from previous close. Is now the time to buy Leggett & Platt? Access our full analysis report here, it's free What Is The Market Telling Us Leggett & Platt's shares are quite volatile and have had 15 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally cha Show less Read more
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