M&A - LEGGETT & PLATT INC

Form Type: 8-K

Filing Date: 2025-04-02

Corporate Action: Acquisition

Type: New

Accession Number: 000119312525070909

Filing Summary: On April 2, 2025, Leggett & Platt, Incorporated entered into a Share Purchase Agreement with Flow Intermediate II, LLC and Flow UK Holdco, Limited, whereby Leggett agreed to sell all outstanding shares of its Aerospace Products Group for a cash purchase price of $285 million, subject to adjustments for working capital and debt. This transaction, approved by Leggett's Board, is expected to close in 2025 pending regulatory approvals. The Aerospace Products Group focuses on manufacturing engineered tube and duct assemblies primarily for commercial and military aerospace applications. The agreement includes various representations, warranties, and covenants, and outlines a termination fee of $14.25 million under specific circumstances. The closing is contingent on the accuracy of representations, regulatory clearances, and absence of adverse effects. Lazard Frères & Co. LLC is serving as Leggett's financial advisor, and Freshfields US LLP is its legal advisor.

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