Tempur-Pedic Provides Update on Sealy Transaction

Nov 08, 2012, 08:00 ET from Tempur-Pedic International Inc.

LEXINGTON, Ky., Nov. 8, 2012 /PRNewswire/ -- Tempur-Pedic International Inc. (NYSE: TPX), the leading manufacturer, marketer and distributor of premium mattresses and pillows worldwide, provided an update today on certain aspects of the proposed acquisition of Sealy Corporation, in response to investor inquiries.

With respect to the process for antitrust review under the Hart-Scott-Rodino ("HSR") Antitrust Improvements Act of 1976, the Company confirmed that it has refiled its HSR notification, which resulted in a new 30-day waiting period under the Act. The new 30-day period will expire on November 30, 2012 unless the Federal Trade Commission issues a request for additional information and documentary materials (a Second Request). The Company further noted that this refiling and extension of the waiting period is consistent with its initial expectations for the regulatory process.

In addition, the Company confirmed that the time period under the Agreement and Plan of Merger Agreement with Sealy during which Sealy was permitted to terminate the Merger Agreement to accept a "Superior Proposal" has expired. 

About the Company Tempur-Pedic International Inc. (NYSE: TPX) manufactures and distributes mattresses and pillows made from its proprietary TEMPUR(R) pressure-relieving material. It is the worldwide leader in premium and specialty sleep. The Company is focused on developing, manufacturing and marketing advanced sleep surfaces that help improve the quality of life for people around the world. The Company's products are currently sold in over 80 countries under the TEMPUR(R) and Tempur-Pedic(R) brand names. World headquarters for Tempur-Pedic International is in Lexington, KY. For more information, visit http://www.tempurpedic.com or call 800-805-3635.

SOURCE Tempur-Pedic International Inc.