MILWAUKEE, Aug. 4, 2025 -- The Ademi Firm is investigating Steelcase (NYSE: SCS) for possible breaches of fiduciary duty and other violations of law in its transaction with HNI Corporation.
Click here to learn how to join our investigation and obtain additional information or contact us at gademi@ademilaw.com or toll-free: 866-264-3995. There is no cost or obligation to you.
In the transaction, shareholders of Steelcase will receive $7.20 in cash and 0.2192 shares of HNI common stock for each Steelcase share owned in a transaction valued at approximately $2.2 billion. The implied per-share purchase price of $18.30 is based on HNI's closing share price of $50.62 on August 1, 2025. Upon closing, HNI shareholders will own approximately 64% and Steelcase shareholders will own approximately 36% of the combined company.
Steelcase insiders will receive substantial benefits as part of change of control arrangements.
The transaction agreement unreasonably limits competing transactions for Steelcase by imposing a significant penalty if Steelcase accepts a competing bid. We are investigating the conduct of the Steelcase board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & Fruchter LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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