HNI Corporation and Steelcase Inc. have set an Election Deadline for Steelcase shareholders to choose their form of merger consideration.
Shareholders must submit their election forms by 5:00 p.m. Eastern Time on December 4, 2025, to participate in the acquisition process.
The merger completion is subject to approval by both HNI and Steelcase shareholders and other customary closing conditions.
Election Deadline
Shareholders must submit their election forms by December 4, 2025, with the exchange agent to participate in the merger process.
Mixed Consideration
Shareholders not submitting election forms by the deadline will receive a mix of HNI common stock and $7.20 in cash per Steelcase share.
Automatic Adjustment
Cash or stock consideration elections will be adjusted to ensure fairness for all shareholders based on the Merger Agreement terms.
- The Election Deadline sets a crucial timeline for Steelcase shareholders to make informed decisions regarding the merger.
- The Mixed Consideration option provides a blend of stock and cash, ensuring a balance in the merger outcomes.
- Automatic adjustments guarantee fairness in the distribution of cash and stock based on the effective time of the transaction.
Steelcase shareholders are urged to carefully consider their merger consideration options and submit their election forms before the deadline to participate in the acquisition process. The Merger Agreement terms ensure a fair and balanced distribution of consideration to all shareholders.