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Sleep Number Corporation shares intraday rise 3.47% following FTC lawsuit to block Tempur Sealy-Mattress Firm merger.
ByAinvest
Wednesday, Jul 3, 2024 10:20 am ET1min read
Sleep Number Corporation experienced a 3.47% intraday rise during trading. The stock movement was positive as the company faced significant news that the US Federal Trade Commission (FTC) announced its intention to sue and block Tempur Sealy's $4 billion acquisition of Mattress Firm. This development raised concerns over the deal's potential impact on competition and pricing in the mattress market, affecting Sleep Number's business environment. The FTC's action, which may lead to legal challenges for the acquisition, seems to have temporarily boosted Sleep Number's shares due to the perceived disruption to its competitor's plans.
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