Knoll Inc jumps on $1.8 bln takeover deal from Herman Miller

MillerKnoll

19/04/2021 13:38

** Shares of Knoll Inc  KNL.N  rise 30.1% to $22.50
premarket, after the office furniture maker agrees to be bought
by rival Herman Miller  MLHR.O  for $1.8 bln
    ** KNL set to open at a 14-month high; MLHR down 12.3% at
$38.84 and on pace to give up nearly two months' worth of gains 
    ** Under terms of the cash and stock deal, MLHR will pay KNL
shareholders $25.06 per share- a 45.4% premium to KNL's closing
price on Friday  urn:newsml:reuters.com:*:nL4N2MC2P4
    ** Herman Miller's shareholders will own about 78% of
combined co
    ** KNL up 17.4% YTD, while MLHR has gained 31.1%
    

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))