HNI to acquire Kimball International for ~$485M in cash/stock; $12.90/share implied value

HNI CORP

Total consideration $12.90/share: $9 cash + 0.1301 HNI shares; 81% premium to KBAL 30-day VWAP.
Pro forma annual revenue ~$3.1B, pro forma adj. EBITDA ~$290M inclusive of ~$25M annual cost synergies within 3 years.
Transaction approved by both boards; expected close by mid-2023 subject to KBAL shareholder vote and regulatory approval.
Kimball CEO Kristie Juster to remain until close; combined co. led by HNI CEO Jeff Lorenger.
KBAL shareholders will own ~10% of combined company.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.