As filed with the Securities and Exchange Commission on November 6, 1996
Registration No. 333-________
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-3
REGISTRATION STATEMENT
Under
The Securities Act of 1933
LEGGETT & PLATT, INCORPORATED
(Exact name of registrant as specified in its charter)
Missouri No. 1--Leggett Road 44-0324630
(State or other Carthage, Missouri 64836 (I.R.S. Employer
jurisdiction of (417) 358-8131 Identification No.)
incorporation or organization)
(Address, including zip code, and telephone number,
including area code, of registrant's principal executive offices)
John A. Lyckman
Assistant General Counsel
Leggett & Platt, Incorporated
No. 1--Leggett Road
Carthage, Missouri 64836
(417) 358-8131
(Name, address, including zip code, and telephone
number, including area code, of agent for service)
Approximate date of commencement of proposed sale to public: From
time to time after this Registration Statement becomes effective on dates,
at times and on terms not currently determined.
If the only securities being registered on this Form are being
offered pursuant to dividend or interest reinvestment plans, please check
the following box.
If any of the securities being registered on this Form are to be
offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933, other than securities offered only in connection
with dividend or interest reinvestment plans, check the following box.X
CALCULATION OF REGISTRATION FEE
==============================================================================
Title of Each Class of Amount to be Proposed Maximum Proposed Maximum Amount of
Securities to be Registered Registered Offering Price Aggregate Offering Registration Fee
Per Share (1) Price (1)
______________________________________________________________________________
Common Stock, $.01 par
value and attached Preferred
Stock Purchase Rights 615,259 shares $30.0625 $18,496,224 $5,605
==============================================================================
(1) Estimated solely for the purpose of calculating the registration
fee pursuant to Rule 457, based upon the average of the high and
low prices of Registrant's Common Stock on November 4, 1996 on
the New York Stock Exchange Composite Tape of $30.0625.
The Registrant hereby amends this Registration Statement on such date
or dates as may be necessary to delay its effective date until the
Registrant shall file a further amendment which specifically states that
this Registration Statement shall thereafter become effective in accordance
with Section 8(a) of the Securities Act of 1933, or until the Registration
Statement shall become effective on such date as the Commission, acting
pursuant to said Section 8(a), may determine.
Prospectus
615,259 Shares
LEGGETT & PLATT, INCORPORATED
Common Stock
(and Preferred Stock Purchase Rights attached to the Common Stock)
The shares of Common Stock, $.01 par value, (the "Common Stock") of
Leggett & Platt, Incorporated, a Missouri corporation (the "Company")
offered hereby (the "Shares") are being sold for the account of and by the
persons named under the caption "Selling Shareholders." The Selling
Shareholders have advised the Company that these Shares may be sold from
time to time in transactions on the New York Stock Exchange or Pacific
Stock Exchange or in negotiated transactions, in each case at prices
satisfactory to the Seller. (See "Plan of Distribution.")
The Company will receive no part of the proceeds from the sale of the
Shares. The Selling Shareholders will pay all applicable stock transfer
taxes, transfer fees and brokerage commissions, and related fees and
expenses, but the Company will bear the cost of preparing the Registration
Statement and Prospectus and all filing, legal and accounting fees
incurred in connection with registration of the Shares under the federal
securities laws.
The Common Stock is listed on the New York Stock Exchange and Pacific
Stock Exchange (symbol: LEG). On November 4, 1996 the average of the high
and low prices of the Common Stock on the New York Stock Exchange,
Composite Transactions was $30.0625 per share.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR
HAS THE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE
ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE
CONTRARY IS A CRIMINAL OFFENSE.
No dealer, salesperson or other person has been authorized to give
any information or to make any representations not contained or
incorporated by reference in this Prospectus and, if given or made, such
other information or representation must not be relied upon as having been
authorized by the Company, any Selling Shareholder or any other person.
Neither the delivery of this Prospectus nor any sale made herein shall,
under the circumstances, create any implication that there has been no
change in the affairs of the Company since the date hereof. This
Prospectus does not constitute an offer to sell or solicitation of an
offer to buy the securities offered hereby to any person or by anyone in
any jurisdiction in which such offer or solicitation may not lawfully be
made.
The date of this Prospectus is November 6, 1996
AVAILABLE INFORMATION
The Company is subject to the information requirements of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), and in
accordance therewith files reports, proxy statements, and other
information with the Securities and Exchange Commission (the "Commission").
Such reports, proxy statements and other information can be inspected and
copied at the offices of the Commission at Room 1024, 450 Fifth Street, NW,
Washington, D.C. 20549 and at the Commission's Regional Offices at
Northwestern Atrium Center, 500 West Madison Street, Suite 1400, Chicago,
Illinois 60661-2511; 75 Park Place, 14th Floor, New York, New York 10007;
and 5757 Wilshire Blvd., Suite 500 East, Los Angeles,California 90036-3648.
Copies of such material can also be obtained from the Public Reference
Section of the Commission at 450 Fifth Street, NW, Washington, D.C. 20549 at
prescribed rates. The Commission maintains a Web site that contains reports,
proxy and information statements and other information regarding registrants
that file electronically with the Commission at (http://www.sec.gov). Reports,
proxy statements and other information concerning the Company can be
inspected and copied at the offices of the New York Stock Exchange at 20 Broad
Street, New York, New York and at the office of the Pacific Stock Exchange
Incorporated, Listings Department, 115 Sansone Street, Suite 1104, San
Francisco, California 94104. This Prospectus does not contain all the
information set forth in the Registration Statement filed by the Company with
respect to the offering made hereby. Copies of such Registration Statement are
available from the Commission.
INCORPORATION OF CERTAIN INFORMATION BY REFERENCE
The following documents have been previously filed by the Company
with the Commission and are incorporated by reference into this Prospectus:
(1) Annual Report on Form 10-K for the year ended December 31, 1995,
except for (i) Item 7. Management's Discussion and Analysis of
Financial Condition and Results of Operations and (ii) the
financial statements included as part of Item 14.
(2) Quarterly Reports on Form 10-Q for the quarters ended March 31,
1996, June 30, 1996 and September 30, 1996.
(3) Current Reports on Form 8-K dated May 6, 1996, May 24, 1996 and
August 15, 1996.
(4) The description of the Company's common stock contained in Form
8-A dated June 5, 1979, including any amendments or reports
filed for the purpose of updating such description.
(5) The description of the Company's Preferred Stock Purchase Rights
contained in Form 8-A dated February 15, 1989, including any
amendments or reports filed for the purpose of updating such
description.
All reports and definitive proxy statements filed by the Company
pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act
subsequent to the date of this Prospectus and prior to the termination of
the offering to be made hereunder shall be deemed to be incorporated by
reference into this Prospectus and to be a part hereof from the date of
filing such documents, except that in no event shall any information
included in any such document in response to item 402(i), (k) or (l) of
Regulation S-K be deemed to constitute a part of this Prospectus.
Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or
superseded for purposes of this Prospectus to the extent that a statement
contained herein or in any other subsequently filed document which also is
or is deemed to be incorporated by reference herein modifies or supersedes
such statement. Any such statement so modified or superseded shall not be
deemed, except as so modified or superseded, to constitute a part of this
Prospectus.
The Company will provide without charge to each person, including any
beneficial owner, to whom this Prospectus is delivered, upon written or
oral request of such person, a copy of any or all of the documents
incorporated herein or in the Registration Statement by reference (other
than exhibits to such documents unless such exhibits are specifically
incorporated by reference in such documents). All requests for such
information should be directed to the Company's executive offices at No. 1
Leggett Road, Carthage, Missouri 64836, Attention: Investor Relations,
(417) 358-8131.
THE COMPANY
The Company was incorporated in 1901 as the successor to a
partnership formed in 1883 in Carthage, Missouri. That partnership was a
pioneer in the manufacture and sale of steel coil bedsprings. The
Company's principal executive offices are located at No. 1 --
Leggett Road, Carthage, Missouri 64836, telephone (417) 358-8131. Unless
otherwise indicated the term "Company" includes Leggett & Platt,
Incorporated and its majority-owned subsidiaries.
The Company is a manufacturer. It makes a variety of engineered
products which are sold to several thousand customers. The Company's
products include a broad line of components that are primarily sold to
companies which manufacture finished furniture and bedding. Components
are items used by furnishings manufacturers to construct their finished
products. Examples of components manufactured by the Company include
innerspring and boxspring units for mattresses and boxsprings; foam,
textile, fiber and other cushioning materials for bedding and furniture;
springs and seating suspensions for furniture; steel mechanisms for
reclining chairs, sleeper sofas and other types of motion furniture;
chair controls, aluminum, steel and plastic bases for office furniture;
non-fashion fabrics and other furniture supplies; aluminum die castings
for gas barbeque grills and other furnishings.
The Company also makes some finished furnishings products. Examples
include bed frames, daybeds, bunk beds, headboards, electric beds, carpet
underlay, metal and wire displays, shelving and other commercial fixtures.
These finished products are sold to manufacturers that also buy the
Company's components or to wholesalers, retailers and others.
Outside the furnishings area, the Company produces and sells a number
of components and other products used in many different home, industrial
and commercial applications. Examples of these diversified products
include industrial wire, steel tubing, automotive seat suspension systems,
aluminum ingot, industrial fabrics, mechanical springs, machinery and
parts for manufacturing equipment, foam products and injection molded
plastic products.
The Company's products are made primarily from steel rod, wire and
other types of steel, textile fibers, woven and non-woven fabrics,
aluminum, wood, foam chemicals, and plastics. Some of these raw materials
such as steel wire, steel tubing, aluminum ingot, shredded textile fibers
and cut-to-size dimension lumber are manufactured by the Company.
The Company's principal executive offices are located at No. 1--
Leggett Road, Carthage, Missouri 64836, telephone (417) 358-8131. Unless
otherwise indicated the term "Company" includes Leggett & Platt,
Incorporated and its majority-owned subsidiaries.
USE OF PROCEEDS
The Company will not receive any of the proceeds from the sale of the
Shares by the Selling Shareholders.
SELLING SHAREHOLDERS
The following information has been provided to the Company by the
persons listed below as the Selling Shareholders (the "Selling
Shareholders") including the number of shares of the Common Stock
beneficially owned by each Selling Shareholder as of September 21, 1996,
and the number of shares of the Common Stock being offered for the account
of such Selling Shareholder pursuant to this Prospectus.
Shares to Be Owned
Name of Beneficially Owned Shares Offered After Completion of
Selling Shareholders Prior to Offering Hereby This Offering
Steven J. Adams 9,787 4,392 5,395
James Earl Bane Rev. t 25,057 11,249 13,808
Trust U/A/D 2/10/95
Rick L. & Lana J. Bates, 5,412 2,429 2,983
Tenants by the Entirety
Boatmen's National Bank 2,042 916 1,126
of St. Louis, Custodian
for Rick L. Bates IRA
Robert E. & Regina F. 12,705 5,702 7,003
Burnett, Tenants by the
Entirety
Boatmen's National Bank 11,732 5,266 6,466
of St. Louis, Custodian
for Judith R. Cheney IRA
Michelle A Cheney 14,088 6,323 7,765
W. J. Cheney Trust dated 386,738 173,621 213,117
10/28/91
Boatmen's National Bank 11,732 5,266 6,466
of St. Louis, Custodian
for William J. Cheney IRA
William E. & Trudy K.
Crowe, Tenants by the 331 148 183
Entirety
Arthur L. & Maureen L. 64,006 26,878 37,128
Dunaway, Tenants by the
Entirety
Carolyn L. Edman Trust 11,230 5,042 6,188
dated 5/9/91
Robert E. Edman Trust 11,230 5,042 6,188
dated 5/9/91
Joseph Epstein 10,413 4,674 5,739
Joseph Epstein S.E.P. 10,005 4,491 5,514
Edgar B. Freund Trust 53,083 23,830 29,253
Volley W., Jr. & Norma J. 6,933 3,112 3,821
Fullerton, Tenants by the
Entirety
Thomas C. & Ann I. 9,528 4,277 5,251
Geisert, Tenants by the
Entirety
Mary Grace Gerstner 14,088 6,323 7,765
James H. Harris 3,068 1,189 1,879
Christopher A. Jones 1,021 457 564
Boatmen's National Bank 11,728 5,264 6,464
of St. Louis, Custodian
for Glenda R. Jones IRA
Boatmen's National Bank 11,728 5,264 6,464
of St. Louis, Custodian
for Thomas E. Jones, Jr.
IRA
Thomas E., Jr. & Glenda 109,730 49,260 60,470
R. Jones, Tenants by the
Entirety
Thomas E. Jones, III 1,021 457 564
Thomas R. Jones 6,838 3,068 3,770
Stephen B. & Julia M. 285 127 158
Leibbrand, Tenants by the
Entirety
Boatmen's National Bank 7,477 3,356 4,121
of St. Louis, Custodian
for Debra K. McPherson IRA
Boatmen's National Bank 7,477 3,356 4,121
of St. Louis, Custodian
for Michael J. McPherson
IRA
Michael J. McPherson 1,987 891 1,096
Custodian for James D.
McPherson
Michael J. & Debra K. 17,687 7,939 9,748
McPherson, Tenants by the
Entirety
Michael J. McPherson 1,987 891 1,096
Custodian for Scott M.
McPherson
Ronald C. Molinaro 35,493 15,932 19,561
Kimberly R. Obermeyer 14,088 6,323 7,765
Billie G. & Fernell 20,417 9,166 11,251
Pieper, Tenants by the
Entirety
DLJSC Custodian for 6,125 2,749 3,376
David F. Richards IRA
David F. & Laurie A. 5,815 2,609 3,206
Richards, Tenants by the
Entirety
Boatmen's National Bank 1,021 457 564
of St. Louis, Custodian
for Debra K. Salyer IRA
Boatmen's National Bank 1,021 457 564
of St. Louis, Custodian
for Lloyd Leigh Salyer IRA
Lloyd Leigh & Debra K. 5,178 1,821 3,357
Salyer, Tenants by the
Entirety
Martin, Jr. & Judy E. 119,450 53,624 65,826
Schulz, Tenants by the
Entirety
Clifford C. & Sandra W. 6,609 2,965 3,644
Shular, Tenants by the
Entirety
Boatmen's National Bank 11,578 5,197 6,381
of St. Louis, Custodian
for George E. Terry IRA
DLJSC Custodian for 1,728 775 953
Virginia S. Terry IRA
James G. & Patricia L. 91,748 41,188 50,560
Woestman, Tenants by the
Entirety
Kelly A. Woestman 1,987 891 1,096
Samual S. Woestman 1,987 891 1,096
Woestman Enterprises, 103,963 46,672 57,291
Inc.
Woestman Enterprises, 100,531 35,356 65,175
Inc. Profit Sharing
Robert R. Wurdack 9,188 3,562 5,626
David J. & Mildred L. 9,188 4,124 5,064
York, Tenants by the
Entirety
None of the Selling Shareholders has held any position or office
or otherwise had a material relationship with the Company within the past
three years other than as a result of the ownership of the shares of the
Common Stock of the Company.
Each of the Selling Shareholders received the Shares offered
hereby directly or indirectly in connection with the merger (the "Merger")
of SC Acquisition Corp. a wholly-owned subsidiary of the Company, into
Steadley Company, a Missouri corporation ("Steadley"). As a result of this
transaction, Steadley became a wholly-owned subsidiary of the Company.
PLAN OF DISTRIBUTION
The Shares may be sold from time to time by the Selling
Shareholders or their pledgees or donees. Such sales may be made on one
or more exchanges or in negotiated transactions not on an exchange at
prices and on terms then prevailing or at prices related to the then
current market price or at negotiated prices. The Shares may be sold by
one or more of the following: (a) a block trade in which the broker or
dealer so engaged will attempt to sell the Shares as agent but may
position and resell a portion of the block as principal to facilitate the
transaction; and (b) ordinary brokerage transactions and transactions in
which the broker solicits purchasers. In effecting sales, brokers or
dealers may arrange for other brokers or dealers to participate. Brokers
or dealers will receive commissions or discounts in amounts to be
negotiated immediately prior to the sale which amounts will not be greater
than that normally paid in connection with ordinary trading transactions.
In addition, any securities covered by this Prospectus which
qualify for sale pursuant to Rule 144 may be sold under Rule 144 rather
than pursuant to this Prospectus.
CAPITAL STOCK
The Company's authorized capital stock consists of 300,000,000
shares of Common Stock, $.01 par value, 1,000,000 shares of Series A
Junior Participating Preferred Stock and 99,000,000 shares of Preferred
Stock without par value. As of September 30, 1996 there were 89,924,288
shares of Common Stock and no shares of preferred stock outstanding.
A description of the Common Stock is contained in the Company's
Registration Statement on Form 8-A, dated June 5, 1979, including any
amendments or reports filed for the purpose of updating such description,
which is incorporated by reference. A description of the Preferred Stock
Purchase Rights is contained in the Company's Registration Statement on
Form 8-A, dated February 15, 1989, including any amendments or reports
filed for the purpose of updating such description, which is also
incorporated by reference.
LEGAL OPINIONS
Ernest C. Jett, Vice President Secretary and Managing Director of the
Legal Department of the Company, has rendered an opinion concerning the validity
of the Shares and certain other legal matters. Mr. Jett is a full-time
employee of the Company. On August 12, 1996, Mr. Jett beneficially owned
49,786 shares of Common Stock and held options to purchase an additional
21,489 shares of Common Stock.
EXPERTS
The financial statements incorporated in this Prospectus by
reference to the current report on Form 8-K dated August 15, 1996, have
been so incorporated in reliance on the report of Price Waterhouse LLP,
independent accountants, given on the authority of said firm as experts in
auditing and accounting.
TABLE OF CONTENTS
Page
Available Information. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
Incorporation of Certain Information
by Reference. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
The Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Use of Proceeds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Selling Shareholders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
Plan of Distribution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8
Capital Stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Legal Opinions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
Experts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9
LEGGETT & PLATT, INCORPORATED
615,259 Shares
Common Stock
$.01 Par Value
(and Preferred Stock Purchase Rights
attached to the Common Stock)
PROSPECTUS
November 6, 1996
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution
The following table sets forth the estimated expenses of the Company in
connection with the issuance and distribution of the securities being
registered, exclusive of those expenses to be borne by the Selling
Shareholders.
SEC registration fee . . . . . . . . . . . . . . . . . $ 5,604
Accounting fees and expenses . . . . . . . . . . . . . 3,000
Legal fees and expenses. . . . . . . . . . . . . . . . 3,000
Printing of documents. . . . . . . . . . . . . . . . . 3,000
Miscellaneous. . . . . . . . . . . . . . . . . . . . . 1,000
______
Total . . . . . . . . . . . . . . . . . . $ 15,604
======
Item 15. Indemnification of Directors and Officers
Under the Company's Restated Articles of Incorporation and Missouri
corporation laws, each of the present and former directors and officers of
the Company may be entitled to indemnification under certain circumstances
from certain liabilities, claims and expenses arising from any threatened,
pending or completed action, suit or proceeding (including any such
action, suit or proceeding arising under the Securities Act of 1933), to
which they are made a party by reason of the fact that he is or was a
director or officer of the Company.
The Company insures its directors and officers against certain
liabilities and has insurance against certain payments which it may be
obliged to make to such persons under the indemnification provisions of
its Restated Articles of Incorporation.
Item 16. Exhibits
5 Opinion of Ernest C. Jett, Assistant General Counsel
to Registrant
23(a) Consent of Price Waterhouse LLP
23(b) Consent of Ernest C. Jett, Assistant General Counsel
(contained in opinion filed as Exhibit 5 hereto)
Item 17. Undertakings
The undersigned Registrant hereby undertakes:
(a)
(1) To file, during any period in which offers or sales are
being made, a post-effective amendment to this Registration Statement:
(i) To include any Prospectus required by Section 10(a)(3) of
the Securities Act of 1933;
(ii) To reflect in the Prospectus any facts or events arising
after the effective date of the Registration Statement (or the
most recent post-effective amendment thereof) which, individually
or in the aggregate, represent a fundamental change in the
information set forth in the Registration Statement;
(iii) To include any material information with respect to the plan
of distribution not previously disclosed in the Registration
Statement or any material change to such information in the
Registration Statement;
Provided, however, that paragraphs (i) and (ii) above do not apply
if the information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed by the
Registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in this
Registration Statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned Registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of
the Registrant's annual report pursuant to Section 13(a) or Section 15(d)
of the Securities Exchange Act of 1934 (and, where applicable, each filing
of an employee benefit plan's annual report pursuant to Section 15(d) of
the Securities Exchange Act of 1934) that is incorporated by reference in
the Registration Statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of
such securities at that time shall be deemed to be the initial bona fide
offering thereof.
(e) The undersigned Registrant hereby undertakes to deliver or cause
to be delivered with the Prospectus, to each person to whom the Prospectus
is sent or given, the latest annual report to security holders that is
incorporated by reference in the Prospectus and furnished pursuant to and
meeting the requirements of Rule 14a-3 or Rule 14c-3 under the Securities
Exchange Act of 1934; and, where interim financial information required to
be presented by Article 3 of Regulation S-X are not set forth in the
Prospectus, to deliver, or cause to be delivered to each person to whom
the Prospectus is sent or given, the latest quarterly report that is
specifically incorporated by reference in the Prospectus to provide such
interim financial information.
(h) Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the Registrant pursuant to the provisions described
under Item 15 above, or otherwise, the Registrant has been advised that in
the opinion of the Securities and Exchange Commission such indemnification
is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the
Registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection
with the securities being registered, the Registrant will, unless in the
opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question
whether such indemnification by it is against public policy as expressed
in the Act and will be governed by the final adjudication of such issue.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form S-3 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the city of Carthage, State of Missouri, on
the 6th day of November, 1996.
LEGGETT & PLATT, INCORPORATED
By: /s/ Harry M. Cornell, Jr.
Harry M. Cornell, Jr.
Chairman of the Board
and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below constitutes and appoints Harry M. Cornell, Jr., Felix E.
Wright, Robert A. Jefferies, Jr. and Ernest C. Jett, and each of them, his
true and lawful attorneys-in-fact and agents, with full power of
substitution and resubstitution, for him and in his name, place and stead,
in any and all capacities, to sign any and all amendments (including post-
effective amendments) to this Registration Statement and all documents
relating thereto, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, full power
and authority to do and perform each and every act and thing necessary or
advisable to be done in and about the premises, as fully to all intents
and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, or his substitute
or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in
the capacities and on the date indicated.
(S>
Signature Title Date
(a) Principal Executive Officer:
/s/ Harry M. Cornell, Jr. Chairman of the Board, November 6, 1996
Harry M. Cornell, Jr. Chief Executive Officer
and Director
(b) Principal Financial Officer:
/s/ Michael A. Glauber Senior Vice President, November 6, 1996
Michael A. Glauber & Administration
(c) Principal Accounting Officer:
/s/ Allan J. Ross Vice President - November 6, 1996
Allan J. Ross Accounting
(d) Directors:
/s/ Raymond F. Bentele Director November 6, 1996
Raymond F. Bentele
/s/ Robert Ted Enloe, III Director November 6, 1996
Robert Ted Enloe, III
/s/ Richard T. Fisher Director November 6, 1996
Richard T. Fisher
/s/ Bob L. Gaddy Director November 6, 1996
Bob L. Gaddy
/s/ David S. Haffner Director November 6, 1996
David S. Haffner
/s/ Thomas A. Hays Director November 6, 1996
Thomas A. Hays
/s/ Alexander M. Levine Director November 6, 1996
Alexander M. Levine
/s/ Richard L. Pearsall Director November 6, 1996
Richard L. Pearsall
/s/ Duane W. Potter Director November 6, 1996
Duane W. Potter
/s/ Maurice E. Purnell, Jr. Director November 6, 1996
Maurice E. Purnell, Jr.
/s/ Felix E. Wright Director November 6, 1996
Felix E. Wright
EXHIBIT INDEX
Exhibit
Number Description
5 Opinion of Ernest C. Jett, Assistant General Counsel
to the Registrant
23(a) Consent of Price Waterhouse LLP
23(b) Consent of Ernest C. Jett, Assistant General Counsel
(contained in Opinion)
Exhibit 5
November 6, 1996
Leggett & Platt, Incorporated
No. 1--Leggett Road
Carthage, MO 64836
Re: Form S-3 Registration Statement
Our File No. 2-70-60
Gentlemen:
As Vice President and Secretary and Managing Director of the Legal
Department, of Leggett & Platt, Incorporated (the "Company"), I have acted on
its behalf in connection with the preparation and filing with the Securities
and Exchange Commission of a Registration Statement on Form S-3 under the
Securities Act of 1933, as amended (the "Registration Statement") relating
to 615,259 shares of the Company's Common Stock, $.01 par value (the
"Shares"), and the Preferred Stock Purchase Rights (the "Rights") attached
to the Shares, to be sold by the Selling Shareholders described therein.
In this connection, I have examined the following documents:
(i) Copy of the Restated Articles of Incorporation of the Company;
(ii) Copies of the Bylaws of the Company, as amended to date;
(iii) Minutes of the meetings of the Board of Directors and
Shareholders of the Company; and
(iv) The Registration Statement and all exhibits thereto.
I have also examined such other documents as I deemed necessary to
the expression of the opinion contained herein.
Based upon the foregoing, I am of the opinion that:
(1) The Company has been duly organized, validly existing and in
good standing under the laws of the State of Missouri.
(2) The Company has an authorized capitalization as set forth in the
Registration Statement;
(3) The issue by the Company of the Shares and the Rights to the
Selling Shareholders has been duly and validly authorized by necessary
corporate action;
(4) The Shares and the Rights to be sold by the Selling Shareholders
pursuant to the Registration Statement have been validly issued and are
fully paid and nonassessable.
I hereby consent to the use of my name in the Registration Statement
and in the related Prospectus and to the use of this opinion as Exhibit 5
to the Registration Statement.
Sincerely,
LEGGETT & PLATT, INCORPORATED
/s/ ERNEST C. JETT
Ernest C. Jett, Vice President and Secretary and
Managing Director of the Legal Department
ECJ/slk
Exhibit 23(a)
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in the Prospectus
constituting part of this Registration Statement on Form S-3 of our report
dated February 8, 1996, except for note A which is as of May 13, 1996,
appearing on page 20 of Leggett & Platt Incorporated and Subsidiaries'
Current Report on Form 8-K dated August 15, 1996. We also consent to the
reference to us under the heading "Experts" in such prospectus.
/s/ PRICE WATERHOUSE LLP
St. Louis, Missouri
November 6, 1996
