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[$$] Tempur Sealy Puts in Stalking-Horse Bid for Innovative Mattress Solutions

IMS outlined the sale agreement in a filing Tuesday in U.S. Bankruptcy Court in Lexington, Ky. The company, which filed for bankruptcy earlier this year, has been funding its chapter 11 case with a $14 million in debtor-in-possession loan from Tempur Sealy, its biggest supplier. Companies in bankruptcy often select a stalking horse, or lead bidder, to set a floor price on their assets.