OHIO MATTRESS <OMT> IN ACQUISITION, SETTLEMENT Ohio Mattress Co said itr has executed a definitive agreement to acquire Sealy Mattress Co of Michigan Inc, the Detroit licensee of Ohio Mattress's 82 pct owned Sealy Inc subsidiary in a transaction that also involves a settlement between Sealy and Michigan Sealy. The company said on completion of the acquisition, the Sealy stock owned by Michigan Sealy will be redeemed, raising Ohio Mattress' interest in Sealy to 93 pct. Michigan Sealy has been in litigation against Sealy, alleging violations of antitrust laws, and Sealy was recently found liable for 45 mln dlrs in damages to Michigan Sealy. Under the acquisition agreement, the company said Sealy will enter into a cash settlement of its litigation with Michigan Sealy. The company said shareholders of Michigan Sealy will receive a total of 48.6 mln dlrs, subject to adjustment, from the acquisition and the settlement, both of which are subject to regulatory approvals. Michigan Sealy had sales of about 12.5 mln dlrs in 1986.