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HNI to acquire Kimball in $485M cash and stock transaction

  • HNI (NYSE:HNI) and Kimball (NASDAQ:KBAL) entered into a definitive agreement wherein the former will acquire all the outstanding shares of Kimball in a cash and stock transaction worth ~$485M.
  • The consideration implies a valuation multiple of ~6.8x CY22 adjusted EBITDA, inclusive of synergies.

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