News of Mattress Firm’s (MFRM) potential acquisition of Sleep Train has seen MFRM stock skyrocket Wednesday.
Mattress Firm has yet to finalize an offer for Sleep Train but there are rumors saying it’s only a matter of time before the purchase happens. The private acquisition could be worth over $200 million in stocks. The deal would further solidify Mattress Firm’s place as the number one mattress chain in the country over Sleepy’s.
Despite being the number one mattress chain in the country, Mattress Firm has yet to dominate the West Coast. The company could become the first true coast-to-coast mattress retailer with the acquisition of Sleep Train which is king in California.
MFRM is up over 14% in early afternoon trading Wednesday.