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Top Lawyers Face Off in Tempur Sealy’s Bid for Mattress Firm

By  |  July 4, 2024
FTC
As the Federal Trade Commission (FTC) seeks to block Tempur Sealy International’s $4.3 billion acquisition of retail giant Mattress Firm, this lawsuit has drawn attention not only for its potential market implications but also for the legal teams representing both sides, reported Reuters. 

The FTC, which holds that the merger would result in job losses for manufacturing workers and higher prices for consumers, has turned to Allyson Maltas, a former Latham & Watkins attorney who joined the agency earlier this year as senior trial counsel. Maltas, now leading the FTC’s case, brings years of experience to the government’s side.

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    On the other hand Tempur Sealy has, according to Reuters,  enlisted law firm Cleary Gottlieb Steen & Hamilton, with antitrust veteran Bruce Hoffman leading their defense and bringing his own wealth of experience and expertise. Tempur Sealy maintains that the bedding industry is highly competitive and that Mattress Firm accounts for only a fraction of the retail market.

    Related: FTC Blocks Tempur Sealy’s $4 Billion Acquisition of Mattress Firm

    Mattress Firm, too, has brought in a top-tier law firm, hiring Simpson Thacher & Bartlett. Their team includes Sara Razi, co-leader of the firm’s antitrust and trade regulation group and an expert on the trade regulations and nuances that will be critical in the ongoing legal battle.

    The case has received particular attention for being a somewhat rare “vertical” merger challenge, involving companies that do not compete directly. U.S. antitrust enforcers have historically struggled to block such mergers in court, adding an extra layer of context and weight to this case.

    Source: Reuters