In two extraordinary meetings held on 13 July, shareholders of Herman Miller and Knoll approved the plans to acquire Knoll, which were announced in April. According to the plans, Herman Miller intends to acquire its competitor within the scope of a cash and stock transaction to the value of US$1.8bn. The transaction is still subject to customary closing conditions. Knoll shareholders will then receive US$11.00 in cash and 0.32 Herman Miller shares in exchange for one Knoll share. Following the amalgamation, Herman Miller shareholders will hold a 78% stake in the company while Knoll shareholders will hold 22%.
