Shareholder Investigation: Is Steelcase Getting a Fair Price in Recent Deal?

Shareholder Notice: The Ademi Firm Investigates if Steelcase Inc. Is Securing Fair Valuation for Its Public Investors MILWAUKEE, August 4, 2025 — The Ademi Firm is conducting an investigation into Steelcase Inc. (NYSE: SCS) concerning potential breaches of fiduciary duty and legal violations related to its recent transaction with HNI Corporation. Interested parties can learn how to participate in the investigation or request additional information by contacting us at [email address] or toll-free at 866-264-3995. There are no costs or obligations involved. The deal involves Steelcase shareholders receiving $7.20 in cash and 0.2192 shares of HNI stock for each Steelcase share held, valuing the transaction at approximately $2.2 billion. The implied price per share is roughly $18.30, based on HNI’s closing share price of $50.62 on August 1, 2025. Post-merger, HNI shareholders will hold about 64%, and Steelcase shareholders will own approximately 36% of the combined entity. Insiders of Steelcase are expected to benefit significantly from change-of-control arrangements. The agreement also includes provisions that restrict competing bids, imposing substantial penalties if Steelcase ac...