Leggett & Platt shares surge 16.37% intraday after Somnigroup proposes all-stock acquisition with 30% premium.

Leggett & Platt surged 16.37% intraday after Somnigroup International Inc. proposed an all-stock acquisition valued at $12 per share, a 30.3% premium to LEG’s 30-day average closing price. The offer, disclosed by both companies, grants LEG shareholders tax-deferred participation in the combined entity’s growth and positions them to benefit from Somnigroup’s strategic backing. Leggett & Platt confirmed receipt of the unsolicited proposal and stated it would evaluate the offer with advisors, while Somnigroup highlighted the strategic synergy between its bedding operations and LEG’s component manufacturing. The significant premium and potential long-term value from the merger drove immediate investor optimism, reflected in the sharp intraday price jump.