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Grand Rapids Business Journal Herman Miller is acquiring the Pennsylvania-based furniture design firm Knoll. The Zeeland-based furniture manufacturer Herman Miller (Nasdaq: MLHR) said Monday that it entered into a definitive agreement with East Greenville, Pennsylvania-based Knoll Inc. (NYSE: KNL) under which Herman Miller will acquire Knoll in a cash and stock transaction valued at $1.8 billion. The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close by the end of the third quarter of calendar year 2021, subject to the satisfaction of closing conditions. Under the terms of the agreement, Knoll shareholders will receive $11 in cash and 0.32 shares of Herman Miller common stock for each share of Knoll common stock they own. Based on Herman Miller’s five-day, volume-weighted average price of $43.94 per share, the transaction terms imply a purchase price of $25.06 per share, representing a 45% premium to Knoll’s clo

United statesEast greenvilleRosen katzAndrew coganHerman millerNational design award for corporateGoldman sachsKnoll incSmithsonian cooper hewitt national design museumSullivan cromwellGoldman sachs coPennsylvania based knollSandi owenNational design awardInstitutional achievementCooper hewitt national design