HNI Corporation's Schedule 13D Filing for Steelcase Inc.

HNI Corporation filed a Schedule 13D with the SEC regarding its acquisition of Steelcase Inc. The filing details the Merger Agreement entered into on August 3, 2025, which involves HNI acquiring control of Steelcase through a two-step merger process. The first merger will merge a subsidiary of HNI with Steelcase, and the second merger will merge Steelcase with another subsidiary of HNI. The Merger Agreement outlines the consideration to be paid to Steelcase shareholders, which includes a mix of cash and HNI common stock. The filing also describes the treatment of Steelcase's equity awards and the conditions required to complete the mergers. Additionally, HNI entered into Voting Agreements with certain Steelcase shareholders to secure their support for the transaction. The filing provides detailed information on the governance changes post-merger and the termination conditions of the Merger Agreement.