Johnson Fistel Investigates Fairness of Proposed Sale of Steelcase

San Diego, California--(Newsfile Corp. - August 4, 2025) - Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Steelcase Inc. (NYSE: SCS) breached their fiduciary duties in connection with the proposed sale of the Company to HNI Corporation (NYSE: HNI).

• Background:
  On August 4, 2025, Steelcase and HNI entered into a definitive merger agreement under which Steelcase will become a wholly owned subsidiary of HNI upon satisfaction of customary closing conditions, including required regulatory and shareholder approvals. Under the terms of the agreement, each outstanding share of Steelcase common stock will be converted into the right to receive $7.20 in cash plus 0.2192 shares of HNI common stock, for a total per-share consideration of approximately $18.30 based on HNI's closing price of $50.62 on August 1, 2025.
• Notably, despite using the $50.62 reference price, HNI's common stock fell more than 19% in pre-market trading on August 4, 2025, reflecting a lower implied purchase price.

If you own Steelcase shares and believe this proposed deal grossly undervalues your investment, please consider joining our investigation. To participate or learn more you can click or copy and paste the following link to join this investigation: https://www.cognitoforms.com/JohnsonFistel/SteelcaseInc2

If you are a shareholder of Steelcase and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

About Johnson Fistel, PLLP | Top Law Firm, Securities Fraud, Investors Rights:
Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. We also extend our services to foreign investors who have purchased on US exchanges. Stay updated with news on stock drops and learn how Johnson Fistel, PLLP can help you recover your losses. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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