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Knoll Inc purchase by Herman Miller nearly complete
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Herman Miller and Knoll Shareholders Approve Merger-Related Proposals
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Knoll Reports First Quarter Results
Strong work from home e-commerce and residential sales growth continue to help mitigate near-term office headwinds
Positive increases in Office pipeline reinforce expectation for return to growth in Q2, and double digit order growth in the 2nd half of 2021.
Diluted EPS was $(0.08) on a GAAP basis, and Adjusted Diluted EPS beat expectations by $0.02 per diluted share
EAST GREENVILLE, Pa., April 28, 2021 (GLOBE NEWSWIRE) Knoll, Inc. (NYSE: KNL), a constellation of design-driven brands and people, working together with clients in person and digitally to create inspired modern interiors for workplaces and homes, today announced financial results for the first quarter ended March 31, 2021. In light of the recent announcement of our proposed merger with Herman Miller, Inc., we will not be holding a conference call.
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
Herman Miller Acquires Knoll for $1 8 Billion
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