WASHINGTON – The U.S. Federal Trade Commission is expected to hand down its decision in the pending Tempur Sealy International acquisition of Mattress Firm as early as next week.
The deal has been the industry’s hot topic since it was first announced last year.
According to a report from CTFN, a news and data website for financial professionals, representatives from Tempur Sealy and Mattress Firm had meetings with FTC commissioners this week. The report cited unidentified sources. The FTC has been reviewing the deal over antitrust concerns.
A number of mattress industry executives – retailers and manufacturers – have confirmed with Furniture Today that they have had additional conversations with the FTC regarding the deal in the past three months. Before the deal was announced last year, the FTC began making rounds asking executives how the merger could impact the industry.
Looking at the FTC calendar, the commission has scheduled a closed-door meeting at 11 a.m. Monday, July 1. According to CTFN, the meeting is to discuss the $4 billion merger.
Scott Thompson, CEO of Tempur Sealy, has said since the deal was announced that the company is prepared to legally defend the acquisition if the FTC squashes it, and he has continued to repeat that mantra during quarterly earnings calls.