Shares of the Mattress Firm (MFRM) skyrocketed Monday on word that South African retail giant Steinhoff International Holdings will acquire the mattress retailer. Under the terms of the deal, Steinhoff will pay $64 a share, a 115 percent premium over Mattress Firm's closing price of $29.74 on Friday. The transaction is valued at $3.8 billion, including debt. Steinhoff said in a statement that the investment in Mattress Firm will create the world's largest multi-brand mattress retail distribution network.
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