HNI Corporation and Steelcase Inc. announced a definitive agreement under which HNI will acquire Steelcase in a cash and stock transaction valued at approximately $2.2 billion. This acquisition brings together two significant players in the office furniture and workplace solutions industry.
Under the terms of the agreement, Steelcase shareholders will receive $7.20 in cash and 0.2192 shares of HNI common stock for each Steelcase share they own. The implied per-share purchase price is $18.30, based on HNI’s closing share price of $50.62 on August 1, 2025.
This implied purchase price represents a nearly 80 percent premium to Steelcase's closing level of $10.18 on August 1, 2025. The transaction is expected to close by the end of calendar year 2025, subject to shareholder and regulatory approvals.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.