GRAND RAPIDS, MI — A Steelcase shareholder is suing the office furniture giant and its future parent company HNI Corp. just weeks before its $2.2 billion acquisition by HNI is due to close.
The plaintiff, Dean Drulias, a Steelcase shareholder since 2016, has requested an injunction preventing Steelcase and its directors from closing the shareholder vote of the sale until there is full disclosure of the “questionable economics,” and “troubling motivations and conflicts of interest” in the sale, according to a civil suit filed Nov. 18 in the 17th Circuit Court of Kent County.
Steelcase announced in August it had entered into an agreement for rival furniture company HNI Corp. to acquire it in a cash and stock transaction, with a total consideration of approximately $2.2 billion to Steelca

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