CAPE TOWN, South Africa, Aug. 8 (UPI) -- South Africa's Steinhoff International Holdings NV will purchase Houston-based Mattress Firm Holding Corp. for $2.4 billion, its first entry into the U.S. market.
Steinhoff, headquartered near Cape Town, offered about $2.4 billion, or $64 per share, for Mattress Firm, owners of the Sleepy's chain of mattress retailers. The bid is 155 percent of Mattress Firm's Friday closing price of $29.74 per share.