Hni Corp Stock Price, News & Analysis

HNI (NYSE: HNI) announced completion of its acquisition of Steelcase (NYSE: SCS), creating a combined enterprise with pro forma annual revenues of $5.8 billion. Shareholders of Steelcase received, by election, one of three consideration options that mix cash and HNI stock: (a) $7.20 plus 0.2192 HNI shares, (b) $16.19 plus 0.0009 HNI shares, or (c) 0.3940 HNI shares; fractional HNI shares will be paid in cash. HNI will keep its headquarters in Muscatine, Iowa; Steelcase will remain in Grand Rapids, Michigan. HNI’s board expanded from 10 to 12 directors to include two former independent Steelcase board members.

HNI (NYSE: HNI) announced the expiration and final results of its exchange offer and consent solicitation tied to its proposed acquisition of Steelcase (NYSE: SCS).

HNI offered up to $450,000,000 of new 5.125% Senior Secured Notes due 2029 in exchange for Steelcase's 5.125% Senior Notes due 2029. As of the 5:00 p.m. New York time Expiration Date on December 5, 2025, holders tendered $351,008,000 (78.00%) of the existing notes. HNI received earlier consents on October 9, 2025 to amend the Steelcase indenture; settlement and the Acquisition are expected to occur on December 10, 2025.

HNI (NYSE: HNI) and Steelcase (NYSE: SCS) announced shareholder approvals advancing HNI’s proposed acquisition of Steelcase under their August 3, 2025 merger agreement. HNI shareholders cast 84.52% of outstanding shares in favor of issuing HNI stock to Steelcase holders; 96.88% of shares voted at HNI’s special meeting. Steelcase shareholders cast 69.93% of outstanding shares in favor of adopting the merger; 99.60% of shares voted at Steelcase’s special meeting. Both companies said they will file Current Reports on Form 8-K with the SEC. The transaction is anticipated to close on December 10, 2025, subject to customary closing conditions.

HNI (NYSE: HNI) and Steelcase (NYSE: SCS) announced preliminary election results for the merger consideration under their August 3, 2025 merger agreement.

As of the 5:00 p.m. ET election deadline on December 4, 2025, shareholders elected: 95,489,941 shares for Mixed Consideration, 8,018,090 for Cash Consideration, and 11,968,798 for Stock Consideration. Default elections were treated as Mixed Consideration.

The Merger Consideration formulas specify (i) Mixed: 0.2192 HNI shares + $7.20 cash, (ii) Cash: $7.20 + 0.2192×HNI VWAP, and (iii) Stock: 0.2192 + ($7.20 / HNI VWAP). Results are preliminary and subject to guaranteed delivery procedures; completion remains subject to shareholder approvals and customary closing conditions.

HNI (NYSE: HNI) and Steelcase (NYSE: SCS) set the shareholder election deadline for the proposed merger at 5:00 p.m. ET on December 4, 2025. Steelcase shareholders must submit election forms to Equiniti Trust Company by that time or be deemed to receive the Mixed Consideration of 0.2192 HNI shares plus $7.20 cash per Steelcase share.

Elections for all-cash or all-stock will be automatically adjusted using a volume-weighted average closing price of HNI over 10 consecutive trading days ending two full trading days before closing. Election materials were mailed beginning November 6, 2025 to record holders as of October 30, 2025. Completion remains subject to shareholder approvals and customary closing conditions.

HNI (NYSE: HNI) announced a quarterly dividend of $0.34 per share. The board declared the dividend on November 5, 2025, payable on December 1, 2025 to shareholders of record at the close of business on November 17, 2025.

HNI designs and manufactures workplace furnishings and residential building products and has operated for more than 75 years. The announcement provides the dividend amount, record date, and payment date for investors.

HNI (NYSE: HNI) reported Q3 2025 net sales $683.8M and GAAP diluted EPS $0.88 (down 10.2% YoY) and non‑GAAP diluted EPS $1.10 (up 6.8% YoY). Consolidated GAAP operating margin was 9.4% while non‑GAAP operating margin reached an all‑time third‑quarter high of 10.8%. The company reduced debt by $120M, ending the quarter with gross debt leverage of 0.9x. Management reiterated mid‑teens percent diluted non‑GAAP EPS growth for full‑year 2025 and said KII synergies plus a Mexico ramp are expected to add $0.75–$0.80 to diluted non‑GAAP EPS in 2025–2026. The pending Steelcase acquisition is expected to close before year‑end 2025.

HNI (NYSE: HNI) announced a definitive agreement to acquire Steelcase (NYSE: SCS) in a cash-and-stock transaction and extended its previously announced exchange offer and consent solicitation for Steelcase's 5.125% notes due 2029 from Oct 27, 2025 to Dec 5, 2025 (unless further extended). HNI is offering up to $450,000,000 of new HNI notes and, as of Oct 27, 2025, $350,767,000 (77.95%) of the existing Steelcase notes had been validly tendered. The supplemental indenture was executed Oct 9, 2025 and will become operative upon settlement, which is expected within five business days after the Expiration Date. The exchange and consent processes are subject to customary conditions and the Acquisition requires shareholder and antitrust approvals.

Allsteel (NYSE:HNI) on Oct 20, 2025 highlighted product and advisory updates that position the office as a hub for collaboration, culture, and connection. The company emphasized three themes: Conscious Materials (e.g., Evo Zero Waste Knit Back using SEAQUAL® upcycled yarn), Power of Personalization (expanded Customer’s Own Material program with 16 suppliers and CET integration), and Versatile Design (Workplace Advisory research and modular solutions like Beyond Walls).

Allsteel cited sustainability metrics for Beyond Walls: up to 56% lower carbon emissions on initial installation and 29% less solid waste after first reconfiguration.