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Early Termination of HSR Waiting Period Granted by FTC for Acquisition of Simmons by Ares Management LLC and Ontario Teachers' Pension Plan.

Article Excerpt
ATLANTA, Oct. 29 /PRNewswire/ -- Simmons Bedding Company ("Simmons" or the "Company"), a leading manufacturer of premium-branded bedding and an indirect subsidiary of Simmons Company, along with Ares Management LLC ("Ares") and Ontario Teachers' Pension Plan ("Teachers'"), today announced that each has received notice from the Federal Trade Commission ("FTC") granting early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR"). The notice relates to the potential acquisition of Simmons and all of its subsidiaries, as well as its parent Bedding Holdco Incorporated, by certain affiliates of Ares and Teachers' Private Capital, the private investment department of Teachers', which was announced on September 25, 2009 (the "Transaction"). With this notice from the FTC, all waiting periods under applicable antitrust and competition regulations in the U.S. and Canada have either terminated or expired and the parties have now satisfied one of the key conditions to consummating the Transaction.

As previously announced on October 13, 2009, the Transaction remains subject to, among other things, the effectiveness of a plan of reorganization under chapter 11 of the U.S. Bankruptcy Code (the "Plan") with respect to which Simmons Company and Simmons are currently soliciting acceptances...

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