Dec 11, 2025 • Sahm
NEUTRAL
Reassessing Steelcase (SCS) Valuation After Its Quiet Multi‑Year Shareholder Return Recovery
Steelcase (SCS) has shown a strong multi-year shareholder return recovery, outperforming many peers, which suggests investors are re-evaluating its potential. While one narrative views the stock as modestly overvalued, a Discounted Cash Flow (DCF) model indicates it may be deeply undervalued, presenting a conflicting view on its investment quality and future prospects. This article explores whether Steelcase is an underappreciated cash generator or if its growth is already priced in, highlighting the discrepancies in valuation perspectives.
Dec 10, 2025 • Business Wire
BULLISH
HNI Corporation Completes Acquisition of Steelcase Inc.
HNI Corporation has successfully acquired Steelcase Inc., merging two prominent industry leaders to address the evolving needs of the workplace, especially with increasing in-office work trends. This acquisition, strongly supported by shareholders of both companies, will strengthen HNI's market position, combining complementary portfolios and distribution networks, and is projected to generate pro forma annual revenues of $5.8 billion. Both companies will maintain their respective corporate headquarters in Muscatine, Iowa, and Grand Rapids, Michigan.
Dec 10, 2025 • Woodworking Network
BULLISH
HNI completes $2.2B acquisition of Steelcase, creating $5.8 billion furniture giant
HNI Corporation has completed its $2.2 billion acquisition of Steelcase Inc., forming a furniture giant with combined annual revenues of $5.8 billion. This merger unites two leading contract furniture companies, aiming to address evolving workplace needs and leverage complementary strengths. The integration will proceed in phases, focusing on operational enhancements and customer experiences.
Dec 06, 2025 • Business Wire
SOMEWHAT-BULLISH
HNI and Steelcase Announce Preliminary Results for Election of Form of Merger Consideration for Steelcase Shareholders
HNI Corporation and Steelcase Inc. have announced the preliminary results of their merger consideration election. The majority of Steelcase shareholders, 95,489,941 shares, elected to receive Mixed Consideration, which includes both cash and HNI common stock. The transaction is still pending shareholder approvals and other closing conditions.
Dec 06, 2025 • Stock Titan
BULLISH
Steelcase (NYSE: SCS) holders back HNI acquisition as pay proposal fails
Steelcase Inc. shareholders have approved the merger with HNI Corporation at a special meeting on December 5, 2025, paving the way for the acquisition to close on December 10, 2025. While the merger proposal received overwhelming support, a separate non-binding advisory vote on executive compensation related to the transaction failed, signaling shareholder disapproval of the proposed pay packages. The failed compensation vote does not, however, prevent the merger from proceeding.
Nov 17, 2025 • Sahm
SOMEWHAT-BEARISH
Halper Sadeh LLC Encourages IMXI, HNI, SCS Shareholders to Contact the Firm to Discuss Their Rights
Halper Sadeh LLC, an investor rights law firm, is investigating potential violations of federal securities laws and/or breaches of fiduciary duties related to transactions involving International Money Express, Inc. (IMXI), HNI Corporation (HNI), and Steelcase Inc. (SCS). The firm encourages shareholders of these companies to contact them to discuss their legal rights and options, including seeking increased consideration or additional disclosures. Halper Sadeh LLC will pursue these actions on a contingent fee basis, meaning shareholders would not be responsible for out-of-pocket legal fees.