August 4, 2025
HNI Corp to acquire Steelcase in $2.2 billion deal
HNI Corporation, whose brands include HON and Allsteel, has agreed to acquire Steelcase in a cash and stock transaction valued at approximately $2.2 billion, according to a report from Rob Kirkbride of office insight. The deal brings together two of the US office furniture sector’s largest players and will create a combined company with annual revenue of around $5.8 billion. 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 hold. Based on HNI’s closing price of $50.62 on August 1, 2025, the deal implies a purchase price of $18.30 per share for Steelcase. Once the acquisition is completed, HNI shareholders will hold 64 percent of the merged entity, with Steelcase shareholders owning the remaining 36 percent. (more…)
June 24, 2025
The Kafka trap of return to office arguments
by Mark Eltringham • Comment, Flexible working