LEG News & Events

Somnigroup (SGI) says it "welcomes" Leggett & Platt's (LEG) willingness to engage in discussions and conduct customary due diligence, which is currently underway. Somnigroup says it remains committed to pursuing a transaction that will deliver substantial value to shareholders of both companies. Comments taken from Q4 earnings conference call.

Reports Q4 revenue $939M, consensus $938.74M. President and CEO Karl Glassman commented, "Throughout 2025, our teams executed our strategic priorities, including strengthening our balance sheet, improving operational efficiency, and positioning the company for long-term growth. We made significant progress on our deleveraging efforts, reducing our debt and lowering our net debt leverage ratio to 2.4x. This was a tremendous step toward achieving our long-term target of 2.0x, making Leggett more agile and enabling us to shift our focus to pursuing opportunities for growth and returning capital to shareholders. We are pleased the restructuring plan we launched in early 2024 was substantially completed by the end of 2025, resulting in greater EBIT benefit with lower costs than originally expected. We are confident the significant improvements made over the past two years are sustainable, will support improved profitability and cash flow, and position us to benefit from the future recovery in residential market demand."

Sees FY26 revenue $3.8B-$4B, consensus $3.9B.

Leggett & Platt (LEG) announced that its board of directors has entered into a customary non-disclosure agreement and six-month standstill with Somnigroup (SGI) to facilitate customary due diligence and to determine if a transaction can be reached that delivers appropriate value and certainty to Leggett & Platt and its shareholders. Discussions between Leggett & Platt and Somnigroup follow the Leggett & Platt Board's review, in consultation with its independent financial and legal advisors, of Somnigroup's unsolicited proposal dated December 1, 2025 to acquire Leggett & Platt in an all-stock transaction. The board determined that Somnigroup's $12 per share proposal undervalues the company and declined the proposal.