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Tempur-Pedic International Incorporated
Mattress mates: Tempur-Pedic buys Sealy for $1.3 billion
Mattress mates: Tempur-Pedic buys Sealy for $1.3 billion

Tempur-Pedic International Inc. is getting into bed with rival Sealy Corp. for $2.20 a share, the companies said Thursday. Together, the mattress-makers will become a bedding giant  worth $2.7 billion in an industry already crowded with competitors such as Serta Inc. and Simmons Bedding Co. Lexington, Ky.-based Tempur-Pedic has been around since the early 1990s and is known for its pressure-relieving memory foam products, which according to the company are based on NASA technology designed for astronauts. Sealy, founded in its namesake town in Texas and now based in Trinity, N.C., dates back to 1881 and is known for its spring-coil beds. The sale price presents a 2.8% premium on...

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