---
schema_version: "secwatch.filing_event.v1"
accession: "0000048287-23-000085"
form_type: "8-K"
ticker: "HNI"
cik: "0000048287"
company_name: "HNI CORP"
filed_at: "2023-03-08T23:59:59+00:00"
generated_at: "2026-06-18T09:00:20.984964+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000048287-23-000085
- form_type: 8-K
- ticker: HNI
- cik: 0000048287
- company_name: HNI CORP
- filed_at: 2023-03-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/48287/000004828723000085/0000048287-23-000085-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/48287/000004828723000085/hni-20230307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000048287-23-000085
- JSON: https://secwatch.observer/filing/0000048287-23-000085.json
- Plain text: https://secwatch.observer/filing/0000048287-23-000085.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.