Tempur Sealy to Divest Stores in Bid for Mattress Firm Deal (1)

Tempur Sealy International Inc. plans to sell more than 100 stores in its $4 billion proposed acquisition of Mattress Firm Inc. that is facing an antitrust challenge from the Federal Trade Commission.

The mattress manufacturer said in a Monday press release that the divestiture of a mix of retail locations and its Sleep Outfitters subsidiary is subject to closing of the deal, which the FTC’s five-member commission voted unanimously to block in July.

The agency claims that the deal, which would combine the world’s largest mattress manufacturer with the largest US specialty retailer, will suppress competition and raise prices.

Hearings ...