HNI and Steelcase have announced the election deadline for Steelcase shareholders regarding the form of consideration in their pending merger. Shareholders may choose between cash, stock, or a mixed consideration for their Steelcase shares. The election deadline has been set for 5:00 p.m. Eastern Time, on December 4, 2025. Those who do not submit their election forms by the deadline will automatically receive a combination of 0.2192 shares of HNI common stock and $7.20 in cash for each Steelcase share. The final allocation of cash and stock will be subject to adjustment to ensure the overall transaction terms remain consistent with the mixed consideration outlined in the merger agreement. This update was disclosed by HNI.
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