National Bedding nears $3 billion buyout : WSJ

(Reuters) - Serta mattress maker National Bedding Co is likely to be bought by private-equity firm Advent International for about $3 billion, the Wall Street Journal reported quoting people familiar with the matter.

The Journal report said it has not been confirmed if the $3 billion deal value includes debt.

There are, however, chances of the deal falling apart, the sources told the Journal.

Bain Capital and Berkshire Partners were also bidding for the company, which was put up for sale earlier this year by owners Ares Management and Ontario Teachers' Pension Plan (OTPP), the sources told the Journal.

Advent declined to comment for the story. Ares, OTPP and National Bedding were not immediately available for comments.

Bain Capital and Berkshire Partners were also not available for comments.

(Reporting by Eileen Anupa Soreng and Himank Sharma in Bangalore; Editing by Lisa Shumaker)