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Steinhoff International to Buy Mattress Firm

Here we go with the wackiest acquisition to date in this nutty 2016: Steinhoff International Holdings (SNH) to buy Mattress Firm (MFRM) , the gigantic mattress retailer, for $64 a share in cash. When you add in the debt load, Steinhoff is shelling out $4 billion for the largest bedding retailer.

Do you know that until this bid, there were many in the hedge funds community who believed that Mattress Firm might not make it? This thinly capitalized company had taken down $1 billion in debt to buy all...