"This deal isn't about creating efficiencies; it's about crippling the competition," said Henry Liu, director of the Federal Trade Commission's Bureau of Competition.
July 02, 2024 at 05:08 PM
3 minute read
The Federal Trade Commission on Tuesday voted 5-0 to authorize filing a lawsuit to block Tempur Sealy from buying retailer Mattress Firm Group, saying the combination would suppress competitors and allow the world’s largest mattress maker to raise prices.
Lexington, Kentucky-based Tempur Sealy countered that the $4 billion purchase would drive efficiencies, not reduce competition, and said it would press on with plans to close the deal by early next year.
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Tempur Sealy last year announced plans to buy the 2,300-store Mattress Firm chain. Photo: Diego M. Radzinschi/ALM
