$SGI (SOMNIGROUP INTERNATIONAL) — 8-K: Somnigroup closes Leggett & Platt deal; net leverage cut to ~2.8x EBITDA

Somnigroup completed its all-stock combination with Leggett & Platt, valued at approximately $2.3 billion based on Somnigroup’s August 25, 2026 closing share price and inclusive of Leggett & Platt’s existing indebtedness. Leggett & Platt shareholders received 0.1455 shares of Somnigroup common stock per share and now own approximately 9% of the combined company on a fully diluted basis. The transaction reduced net financial leverage by approximately 0.2 times to about 2.8 times adjusted EBITDA at close, with further reduction toward the 2.0 to 3.0 times target range expected by year-end. Somnigroup raised its annual run-rate synergy target to $75 million from $50 million and expects about $50 million of annualized non-cash expense from the fair value adjustment to the acquired Leggett & Platt business, plus about $10 million from acquired bonds.

Somnigroup completed its all-stock combination with Leggett & Platt, valued at approximately $2.3 billion based on Somnigroup’s August 25, 2026 closing share price and inclusive of Leggett & Platt’s e