Tempur Sealy International has reached a deal to sell dozens of Mattress Firm locations and the Sleep Outfitters retail chain to Mattress Warehouse as it works through a regulatory challenge to its planned acquisition of Mattress Firm.

Tempur Sealy International (NYSE:TPX) provided an update on Monday in regard to the company's agreement to acquire Mattress Firm Group Inc. The deal is currently being challenged in federal court by the Federal Trade Commission.

Tempur Sealy International said on Monday it plans to sell more than 100 stores in a bid to get regulatory approval for its $4 billion deal with Mattress Firm.

"Tempur Sealy to divest stores to finalise $4bn Mattress Firm deal " was originally created and published by Retail Insight Network, a GlobalData owned brand.

A group of banks led by Wells Fargo & Co. sold a $1.6 billion leveraged loan Friday to help fund Tempur Sealy International Inc.’s proposed acquisition of Mattress Firm Group Inc. that the Federal Trade Commission is seeking to block.

Tempur Sealy International said it has taken steps to get its planned $4 billion takeover of rival Mattress Firm approved by regulators.

Tempur Sealy International, Inc. TPX is pushing forward with its plans to acquire Mattress Firm, despite an ongoing legal challenge from the Federal Trade Commission. The company has agreed to sell its Sleep Outfitters subsidiary and a portion of Mattress Firm’s footprint.