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HNI Corp to Acquire Steelcase for $2.2 Billion

8/4/2025

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Summary

Story summary

HNI Corp will acquire Steelcase for $2.2 billion, valuing shares at $18.30 each, an 80% premium.
Steelcase's stock surged 65%, while HNI's shares dropped 7%.
The merger addresses rising demand for office furniture as businesses return to in-person work.
HNI projects combined annual revenue of $5.8 billion and expects substantial synergies post-merger.

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Story summary

HNI Corp will acquire Steelcase for $2.2 billion, valuing shares at $18.30 each, an 80% premium.
Steelcase's stock surged 65%, while HNI's shares dropped 7%.
The merger addresses rising demand for office furniture as businesses return to in-person work.
HNI projects combined annual revenue of $5.8 billion and expects substantial synergies post-merger.