HNI Corporation Acquires Steelcase for $450 Million in Cash and Stock
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Updated: 52 minutes ago0mins
- Acquisition Agreement: HNI Corporation announced on August 4, 2025, a definitive agreement to acquire Steelcase for $450 million in cash and stock, with the deal expected to close on December 10, 2025, marking a significant expansion in HNI's office furniture market presence.
- Bond Exchange Program: HNI initiated an exchange offer for Steelcase's existing 5.125% notes, successfully obtaining consent from 78% of noteholders, reflecting strong market confidence in HNI's acquisition strategy.
- Shareholder Approval: On December 5, 2025, shareholders of both HNI and Steelcase voted in favor of the acquisition at their respective special meetings, ensuring a smooth progression of the deal and further solidifying HNI's position in the industry.
- Future Outlook: This acquisition is expected to not only enhance HNI's market share but also improve its competitiveness through resource and technology integration, potentially delivering long-term financial benefits and strategic advantages for the company.
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Analyst Views on HNI
Wall Street analysts forecast HNI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HNI is 60.00 USD with a low forecast of 60.00 USD and a high forecast of 60.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 41.180
Low
60.00
Averages
60.00
High
60.00
Current: 41.180
Low
60.00
Averages
60.00
High
60.00
Longbow
Buy
initiated
$70
2025-05-16
Reason
Longbow
Price Target
$70
2025-05-16
initiated
Buy
Reason
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About HNI
HNI Corporation is a manufacturer of workplace furnishings and residential building products. Its Workplace Furnishings segment is a designer and provider of commercial furnishings. Workplace furnishings include furniture systems, seating, storage, tables, architectural products, ancillary products, and hospitality products. Its Residential Building Products segment is a manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. These products are sold through a national system of independent dealers and distributors, as well as corporation-owned installed distribution and retail outlets. Its brands include HON, Allsteel, Beyond, D’style, Gunlocke, Kimball, HBF, HBF Textiles, Interwoven, David Edward, and others. It exports select products through its export subsidiary to North America, principally the Caribbean, Latin America, and Mexico.
About the author
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Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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