Monday, December 08, 2025
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Approval. On Friday, shareholders of both Steelcase and HNI Corporation voted to approve the merger of the two companies, as originally disclosed on August 4th. Recall, HNI is acquiring Steelcase in a cash and stock transaction, with a total consideration of approximately $2.2 billion to Steelcase common shareholders at the time of announcement. Under the terms of the agreement, Steelcase shareholders will receive $7.20 in cash and 0.2192 shares of HNI common stock for each share of Steelcase they own.
Details. At the special meeting of Steelcase’s shareholders held Friday, approximately 99.60% of the shares voted on the Steelcase Merger Proposal, representing approximately 69.93% of the total outstanding shares of Steelcase common stock as of October 14, 2025, were cast in favor of the Steelcase Merger Proposal.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.