The H Partners And Tempur Sealy (TPX) Saga Continues

The H Partners And Tempur Sealy (TPX) Saga Continues by Stock Pucker

• H Partners is ramping up activist efforts at Tempur Sealy.
• The mattress maker has another activist involved as well.
• Yet it’s still unclear what the activist plan is.

H Partners has been a long-term shareholder of Tempur Sealy, but recently went active after a number of years of underperformance. Back in February, we noted that the valuation is still a bit expensive. And H Partners hasn’t laid out its plans to turn around performance.

But now H Partners has sent another letter to Tempur, requesting access to the company’s records. Basically, it wants to know the top shareholders so it can start working them over in an effort to gain support for its...