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Steinhoff’s not lying down on the job mattress bid

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(iStock)
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London - After losing out on two contested bids, and sealing a third only for an activist investor to pop up, Steinhoff [JSE:SHF] isn't taking it lying down.

The South African retail conglomerate has agreed to acquire Mattress Firm, the US's biggest bed retailer by market share, for an enterprise value of $3.8bn.

After showing admirable financial discipline in the past, Steinhoff looks like it has now loosened its purse strings.

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