A cold front will approach the Brazos Valley later today. Isolated areas of rain and thunderstorms could develop along and ahead of that front between mid-afternoon and early evening. Good news: rain & storm activity will be quick moving (1 hour or less). Bad news: a few severe thunderstorms are possible with large hail and strong, damaging winds being the main concern. A brief, isolated tornado threat cannot be ruled out, as well.
Mattress company Tempur-Pedic is buying rival Sealy for approximately $228.6 million in cash.
Tempur-Pedic International Inc. said Thursday that it will pay $2.20 per Sealy share, which is a 3 percent premium to the company's Wednesday closing price of $2.14.
Tempur-Pedic will also assume or pay back all of Sealy Corp.'s outstanding debt. The companies put the total value of the deal at $1.3 billion.
The buyout is expected to close during 2013's first half.
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