M&A

September 27, 2012, 6:24 PM UTC

Tempur-Pedic International Inc. (NYSE: TPX) has agreed to acquire mattress maker Sealy Corp. (NYSE: ZZ). The deal is valued at approximately $1.3 billion (including assumed debt), or $2.20 per share. Sellers include Kohlberg Kravis Roberts & Co., which led a $1.5 billion buyout of Sealy back in 2004.www.sealy.com

Betapond, a Dublin-based provider of Facebook marketing technology, has acquired London-basedIPlatform, the first Facebook preferred developer in the UK. No financial terms were disclosed. Betapond has raised €1.15 million in VC funding from Delta Partners and Enterprise Ireland. www.betapond.com

Dean Foods (NYSE: DF) said that it is exploring a possible sale of its Morningstar dairy business. Reuters reports that Evercore Partners is managing the process, which could be valued at more than $1 billion. www.deanfoods.com

Cerberus Capital Management this year will begin selling its remaining 55% stake in Japanese lender Aozora Bank, which is valued at approximately $2.5 billion. Part of the sale will be transacted via a share buyback.

Francisco Partners has sold the health information management unit of QuadraMed to Nuance Communications (Nasdaq: NUAN). No financial terms were disclosed. Francisco took QuadraMed private in 2010 for $126 million. www.quadramed.com

Lloyds Banking Group is seeking to sell a portfolio of distressed Australian corporate loans with a face value of A$400 million.