OHIO MATTRESS <OMT> IN ACQUISITION, SETTLEMENT
Ohio Mattress Co said itr has
executed a definitive agreement to acquire Sealy Mattress Co of
Michigan Inc, the Detroit licensee of Ohio Mattress's 82 pct
owned Sealy Inc subsidiary in a transaction that also involves
a settlement between Sealy and Michigan Sealy.
    The company said on completion of the acquisition, the
Sealy stock owned by Michigan Sealy will be redeemed, raising
Ohio Mattress' interest in Sealy to 93 pct.  Michigan Sealy has
been in litigation against Sealy, alleging violations of
antitrust laws, and Sealy was recently found liable for 45 mln
dlrs in damages to Michigan Sealy.
    Under the acquisition agreement, the company said Sealy
will enter into a cash settlement of its litigation with
Michigan Sealy.
    The company said shareholders of Michigan Sealy will
receive a total of 48.6 mln dlrs, subject to adjustment, from
the acquisition and the settlement, both of which are subject
to regulatory approvals.
    Michigan Sealy had sales of about 12.5 mln dlrs in 1986.
 Reuter
