HNI Corporation and Steelcase Inc. have set the deadline for Steelcase shareholders to elect the form of merger consideration they desire by December 4, 2025.
The completion of the transaction is subject to approval by HNI and Steelcase shareholders and other customary closing conditions.
Steelcase shareholders must submit their election forms by the Election Deadline to choose between cash, stock, or mixed consideration.
Election Deadline Set
December 4, 2025, is the deadline for Steelcase shareholders to elect the form of merger consideration.
Submission Requirements
Shareholders must submit their election forms to the exchange agent by the Election Deadline.
Automatic Adjustment
Elections for all cash or all stock consideration will be adjusted to ensure fairness in the transaction.
Reference Price Calculation
Calculation of the merger consideration is based on the closing price of HNI common stock on the NYSE for a set period.
- The announcement provides clarity to Steelcase shareholders on the upcoming merger consideration process.
- The submission requirements aim to streamline the election process and ensure timely decisions from shareholders.
The Election Deadline announcement marks a significant step in the merger process between HNI Corporation and Steelcase Inc., setting the stage for shareholders' decision-making.