Snooze and lose

2 April 2012 By Jeffrey Goldfarb

A nightmarish run has destroyed 90 pct of mattress-maker Sealy’s value since its 2006 IPO. An activist wants to shake the slumbering board, which kept paying fees to the LBO firm even as its stake fell to under half. At this stage, KKR might do well to embrace a new bedfellow.

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