HNI Corporation and Steelcase Shareholders Approve Merger, Closing Expected December 10, 2025
HNI Corporationand Steelcase Inc. today announced that their respective shareholders have approved proposals related to HNI’s proposed acquisition of Steelcase, as outlined in their agreement and plan of merger dated August 3, 2025. The approvals mark a key milestone in the companies’ strategic combination and pave the way for the anticipated closing of the Transaction on December 10, 2025, subject to the satisfaction of customary closing conditions.
HNI Shareholders Approve Issuance of Stock
At a special meeting of HNI shareholders held earlier today, approximately 96.88% of the shares voted in favor of the proposal to approve the issuance of HNI common stock to the holders of Steelcase common stock pursuant to the Merger Agreement (the “HNI Proposal”). This represented approximately 84.52% of the total outstanding shares of HNI common stock as of the record date of October 14, 2025.
HNI plans to provide a detailed report of the voting results from its special meeting of shareholders in a Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission (“SEC”). The overwhelming support from HNI shareholders underscores confidence in the strategic rationale of the Transaction and its potential to enhance shareholder value.
Steelcase Shareholders Approve Merger Agreement
In parallel, Steelcase held a special meeting of its shareholders, during which approximately 99.60% of the shares voted on the proposal to adopt the Merger Agreement and approve the first merger contemplated under the agreement (the “Steelcase Merger Proposal”). This vote represented roughly 69.93% of the total outstanding shares of Steelcase common stock as of the record date of October 14, 2025.
Steelcase will also provide a full report of the voting results from its special meeting in a Current Report on Form 8-K filed with the SEC. The strong approval from Steelcase shareholders demonstrates broad support for the merger, reflecting confidence in the combined company’s future growth prospects and strategic alignment.
Next Steps Toward Transaction Closing
With both shareholder votes secured, HNI and Steelcase are on track to complete the Transaction, which is expected to close on December 10, 2025. The closing remains subject to the satisfaction or waiver of customary closing conditions outlined in the Merger Agreement. These conditions include regulatory approvals and other standard closing requirements customary for transactions of this nature.
Following the closing, HNI shareholders will receive shares of HNI common stock in exchange for their Steelcase holdings, effectively bringing the two companies together under HNI’s corporate umbrella. The merger is anticipated to strengthen HNI’s market position in the workplace solutions sector and expand its capabilities across commercial, home, educational, and health-related environments.
Steelcase Inc. (NYSE: SCS) is a global leader in office and workplace solutions, committed to helping the world work better. With a portfolio that includes more than 30 creative and technology partner brands, Steelcase researches, designs, and manufactures innovative furnishings and solutions for offices, homes, educational facilities, and healthcare environments.
Headquartered in Grand Rapids, Michigan, Steelcase employs approximately 11,300 people worldwide. The company leverages its extensive network of expert Steelcase dealers, operating in approximately 790 locations globally, as well as online retail partners, to deliver solutions that improve the work experience for people and organizations.
Steelcase emphasizes sustainability and the well-being of both people and the planet, incorporating these principles into its product design and operational practices. Its solutions are built to foster collaboration, productivity, and creativity, ensuring that workspaces are efficient, flexible, and supportive of evolving work styles.
Strategic Rationale and Outlook
The proposed acquisition reflects the shared vision of HNI and Steelcase to create a leading global platform in the workplace solutions industry. By combining HNI’s expertise in commercial furnishings with Steelcase’s innovation in workplace design, the Transaction is expected to generate significant synergies, including enhanced product offerings, expanded customer reach, and operational efficiencies.
Both companies emphasize that the merger is not only a financial and strategic move but also a step toward shaping the future of work. The integration of HNI and Steelcase will allow for a more holistic approach to workplace solutions, catering to the needs of businesses, educational institutions, healthcare providers, and residential spaces worldwide.
Commitment to Stakeholders
HNI and Steelcase have highlighted their commitment to employees, customers, and shareholders throughout the merger process. Both companies aim to ensure a smooth transition, maintaining operational continuity and strengthening relationships with key clients and partners. The combined organization is expected to be well-positioned to address emerging workplace trends, deliver innovative solutions, and drive long-term shareholder value.
With shareholder approval secured and the closing anticipated on December 10, 2025, the merger between HNI Corporation and Steelcase Inc. represents a significant step forward in the evolution of the workplace solutions industry. By joining forces, the companies aim to create a stronger, more innovative, and more customer-focused organization poised for sustainable growth and leadership in the global market.
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