Simmons to be acquired by Teachers' Pension Plan
Submitted by Aaron Ross on Sun, 09/27/2009 - 11:23
The Simmons Company, maker of Beautyrest mattresses, announced Friday that it agreed to be acquired by the Ontario Teachers' Pension Plan in a deal worth $760 million as a part of Chapter 11 restructuring plan.
Atlanta-based mattress maker Simmons Company said that the deal would allow it to cut its debt to $450 million from around $1 billion.
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