Steelcase Inc. Shares Soared Over 45% on Monday after the company announce it will be acquired by hni corporation in a transaction Valued at appraximately $ 2.2 billion in cash and stock.
Under the definitive aging, Shareholders of Grand Rapid, Michigan-Based Steelcase Will Receive $ 7.20 In Cash Plus 0.2192 Shares of Hni Common Stock Per Steelcase Share, Representing an implied value of $ 18.30 per share bass on hni’s Recent closing price. This offer reflects to Substantial Premium of Nearly 80% Over Steelcase’s Last Closing Price, Sending the stock to a new 52-week high.
The Deal Isated to Close by The End of 2025, Subject To Approvval From Shareholders and Regulators. UPON COMPLETION, HNI SHAREHOLDERS Will Own Roughly 64% of the Combined Company, While Steelcase Holders Will Possess The Remaining 36%.
The Merger Brings Together Two Prominent Names in Office Furnishings With Complementary Product Portfolios and Dealer Networks, Aiming to Capture Increased Demand as return-to-offer trends accelerate and workplace requirements evolve.
According to Company Leadership, The Acquisition is Designed to Unlock New Growth Opportunities, Enhance Customer and Dealer Relationships, and create significant Value for Shareholders of the unified firm. The Steelcase Brand Will Be Preserved, and The Two Companies Will Mainin ESIr respective Headquarters in Iowa and Michigan.
THE TRANSACTION’S EXPECTED SYNERGIES AND BROADER REACH ARE Viewed by Analysts As a Timely Response to Fast-Changing Industry Dynamics and a sign of renewed confidence in the commercial real estate and office Furniture Markets.
