Somnigroup International Proposes All-Stock Acquisition Of Leggett & Platt Valued At $12/Shr

• Proposal represents 30.3% premium to the average closing price of Leggett & Platt's shares during the last 30 trading days
• Combination would provide Leggett & Platt shareholders with significant premium and opportunity to participate in combined company growth

DALLAS, Dec. 1, 2025 /PRNewswire/ -- Somnigroup International Inc. (NYSE:SGI, ", Company", or ", Somnigroup", ))) today announced that it submitted a proposal to the Board of Directors of Leggett & Platt Inc. (NYSE:LEG) to acquire all outstanding common shares of Leggett & Platt in an all-stock transaction (the "Proposal"). Under the terms of the Proposal, Leggett & Platt shareholders would receive shares of Somnigroup common stock with a market value of $12.00 for every one share of Leggett & Platt common stock, based on a fixed exchange ratio to be agreed. The Proposal offers Leggett & Platt shareholders a 30.3% premium to the average closing price of Leggett & Platt's shares during the last 30 trading days, representing a value not achieved by LEG shares since December 2024.

The all-stock structure would enable Leggett & Platt shareholders to participate in the future growth potential of the combined company on a tax-deferred basis.

The Proposal was delivered to the Leggett & Platt Board in a letter on December 1, 2025.