Leggett & Platt Enters into a Non-Disclosure Agreement with Somnigroup

Core Viewpoint - Leggett & Platt's Board of Directors is engaging in discussions with Somnigroup regarding a potential acquisition, following a review of Somnigroup's unsolicited proposal, which was deemed to undervalue the company [2][3]. Group 1: Acquisition Discussions - Leggett & Platt has entered into a non-disclosure agreement and a 6-month standstill with Somnigroup to facilitate due diligence and explore a potential transaction [1]. - Somnigroup's proposal, dated December 1, 2025, offered $12 per share, which the Board believes undervalues Leggett & Platt [2]. - The Board is committed to pursuing actions that are in the best interests of the company and its shareholders [3]. Group 2: Advisory Support - J.P. Morgan Securities LLC is acting as the financial advisor for Leggett & Platt, while Latham & Watkins LLP is serving as the legal advisor [5]. Group 3: Company Overview - Leggett & Platt is a diversified manufacturer with a history of 143 years, producing a wide range of engineered components and products for homes and automobiles [6].