Today, HNI Corp. announced it would be acquiring workplace furniture brand Steelcase Inc. in a cash-and-stock transaction worth $2.2 billion. “This acquisition brings together two respected companies with complementary strengths and represents an exciting milestone in HNI’s growth journey,” said HNI chairman, president and CEO Jeffrey Lorenger in a press release. “We have long admired Steelcase for its insight-led approach, which has helped shape our industry for decades. With the Steelcase portfolio of brands and as in-office work trends accelerate, we will be even better positioned to meet the evolving needs of the workplace, enhance dealer and customer relationships, unlock new opportunities for growth, and create compelling value for the combined company’s shareholders.”

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