South African retailer Steinhoff and Mattress Firm are likely shopping for some new pajamas after announcing the “successful consummation” of a previously announced $64 per share cash tender offer for the U.S. company’s outstanding common stock. [More]
Two big names are going to bed with each other, though one of them you may not be as familiar with: South African retailer Steinhoff — known as “Africa’s Ikea” — is buying America’s largest specialty bedding retailer Mattress Firm, for $3.8 billion. [More]
Instead of going to the mattresses* like they used to, two big rivals are hopping into bed together: Mattress Firm Holdings has agreed to buy Sleepy’s in a $780 million deal.
Sleepy’s just won’t help Ashley pick up her new mattress. The store promised to have rope on hand to strap the mattress to her car, but when Ashley arrived she was told that Sleepy’s had “run out of rope.” To apologize, a sales rep instead promised her free delivery, but called later to explain that he wasn’t authorized to offer any freebies. He did, though, promise that Sleepy’s would have rope the next time Ashley came by. Of course, they didn’t have rope when she returned, and when she complained to a manager, the manager explained that Sleepy’s had no obligation to provide Ashley with rope or free delivery, and that she better find a way to take her mattress because they weren’t going to refund her money either.