Shares of Steelcase (SCS) soared more than 50% Monday morning after the office furniture maker agreed to be acquired by HNI Corporation (HNI) for $2.2 billion in cash and stock. Shareholders of Grand Rapids, Mich.-based Steelcase would receive $7.20 in cash and 0.2192 shares of HNI common stock for each Steelcase share they own, with an implied purchase price of …
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:max_bytes(150000):strip_icc()/GettyImages-1237323321-7b149c425810406a94b3ea465c574d75.jpg "Steelcase Stock Skyrockets as Office Furniture Company Agrees to Sale")