Fairfax Financial to acquire Sleep Country

Sleep Country Canada said this week it has reached a deal to be purchased by a subsidiary of Fairfax Financial Holdings for about $1.7 billion. The terms of the deal leave Sleep Country free to accept a better offer, but Fairfax has the opportunity to match it. It also receives a $36.5 million termination fee if Sleep Country goes with another buyer. Barring such a development, the mattress retailer expects the transaction to close during Q4 of 2024.