Tempur Sealy Deal for Mattress Firm Faces Uphill Battle With FTC — Market Talk
1727 ET - Tempur Sealy still faces an uphill fight to acquire Mattress Firm after it said on Monday it would sell dozens of Mattress Firm locations and the Sleep Outfitters retail chain, Raymond James analysts say in a research note. "We do not believe the update should be viewed as an indication of a higher likelihood from the FTC of allowing the deal to close, but more so as Tempur Sealy putting the necessary preparations in place to close the deal if the FTC approves," they write. In July, the FTC voted to block the acquisition, saying it would allow Tempur Sealy to suppress competition and raise prices. Regardless of the outcome, Raymond James maintains its view that Tempur Sealy "offers a favorable investment case for the medium term," citing its dominating position within the U.S. market and the positive effect of lower interest rates on housing turnover, set to help mattress demand over time. (connor.hart@wsj.com; @connorhart22)
(END) Dow Jones Newswires
September 23, 2024 17:42 ET (21:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Should Emerging-Markets Stocks Stand Alone in Your Portfolio?
-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
3 Dividend Stocks for October 2024
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued