Leggett & Platt shares surge 15.98% after-hours as Somnigroup proposes all-stock takeover with 30.3% premium.

Leggett & Platt (LEG) surged 15.98% in after-hours trading following an unsolicited all-stock acquisition proposal from Somnigroup International, valued at $12 per share—a 30.3% premium to LEG’s 30-day average price. The offer, announced on December 1, 2025, would grant LEG shareholders shares in Somnigroup, enabling tax-deferred participation in the combined entity’s growth. While non-binding and subject to due diligence, the proposal highlights strategic synergies, including LEG’s role as a key supplier to Somnigroup’s bedding brands and potential cost efficiencies. Leggett & Platt confirmed receipt of the offer and stated its board would evaluate the proposal with advisors, with no immediate shareholder action required. The significant premium and potential for long-term value creation drove the sharp post-market rally.