HNI Corporation Acquires Steelcase in $450 Million Cash and Stock Deal
Written by Emily J. Thompson, Senior Investment Analyst
Source: Globenewswire
Updated: 51 minutes ago0mins
- Acquisition Agreement: On August 4, 2025, HNI Corporation announced a definitive agreement to acquire Steelcase for $450 million, marking a strategic expansion in the office furniture market.
- Successful Bond Exchange: HNI completed the exchange offer for Steelcase's 5.125% Notes, receiving valid tenders amounting to $351 million, or 78% of the total, which will optimize its capital structure and reduce financing costs.
- Strong Shareholder Support: At the special meetings on December 5, 2025, shareholders of both HNI and Steelcase voted overwhelmingly in favor of the acquisition, ensuring a smooth transaction expected to close on December 10.
- Positive Future Outlook: This acquisition not only enhances HNI's competitive position but also aims to improve operational efficiency through resource and technology integration, with anticipated long-term financial benefits and market share growth.
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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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