Leggett & Platt shares rally after Somnigroup makes $1.6B all-stock bid

Core Viewpoint - Shares of Leggett & Platt, a US furniture and bedding manufacturer, experienced a significant increase of nearly 15% following the announcement that Somnigroup International submitted an offer to acquire the company in an all-stock deal [1] Company Summary - Leggett & Platt's stock price surged almost 15% on Monday due to the acquisition interest from Somnigroup International [1] - The acquisition proposal is structured as an all-stock deal, indicating a strategic move by Somnigroup International to expand its market presence through Leggett & Platt [1] Industry Summary - The furniture and bedding manufacturing sector is witnessing consolidation activity, as evidenced by Somnigroup International's offer to acquire Leggett & Platt [1] - This acquisition interest reflects ongoing trends in the industry where companies seek to enhance their competitive positioning through mergers and acquisitions [1]