Canadian mattress retailer to acquire Sleep Number for over $700M

Sleep Country announced plans to acquire Sleep Number for $702 million, including approximately $530 million in cash. The U.S. Bankruptcy Court in the Southern District of New York approved the transaction on Monday, with closure anticipated within approximately 10 days based on court filings.
Sleep Number initiated bankruptcy proceedings the previous month with a pre-negotiated agreement already in place with Sleep Country. The Canadian retailer’s initial proposal valued the acquisition