FTC Moves to Block Tempur Sealy’s $4 Billion Purchase of Mattress Firm

American mattress manufacturer Tempur Sealy’s proposed $4 billion acquisition of Mattress Firm Group Inc. is being put on hold amid a challenge by the Federal Trade Commission (FTC), the federal agency announced on July 2. Tempur Sealy—the world’s largest mattress supplier and manufacturer—announced the cash-and-stock deal to purchase the nation’s largest mattress retailer in May 2023. The FTC claims that documents show the acquisition is a deliberate attempt to cripple competition by limiting its rivals’ access to Mattress Firm’s nationwide network of stores. “Through emails, presentations, and other deal documents, Tempur Sealy has made it abundantly clear that its acquisition of Mattress Firm is intended to kneecap competitors and dominate the market,” Henry Liu, Director of the FTC’s Bureau of Competition, said in a statement....