HNI Corp to buy office furniture maker Steelcase for $2.2 billion; bets on return-to-office move of companies

HNI Corp bets on companies’ return-to-office moves as it is set to invest $2.2 billion to buy the office furniture maker Steelcase. Shares of HNI fell 25%, and Steelcase’s rose 45% in premarket trading on the US markets.