Search the web
Welcome, Guest
[Sign Out, My Account]

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
MLHR > SEC Filings for MLHR > Form 8-K on 17-Jul-2014All Recent SEC Filings

Show all filings for MILLER HERMAN INC



Entry into a Material Definitive Agreement, Regulation FD Disclosure

Item 1.01. Entry into a Material Definitive Agreement

On July 17, 2014, Herman Miller, Inc. (the "Company") entered into an agreement to acquire a majority of the outstanding equity of Design Within Reach, Inc. ("DWR"), a Stamford, Connecticut-based, leading North American marketer and seller of modern furniture, lighting and accessories primarily serving consumers and design trade professionals. The Company will acquire an ownership interest in DWR equal to approximately 84%, for an estimated $154 million in cash, subject to adjustment for net debt, changes in working capital, and other post-closing items. As a result of the transaction, the Company estimates it will receive future tax benefits with a present value of approximately $10 million. DWR's current Chief Executive Officer (John Edelman) and President (John McPhee) will together continue to lead the business within Herman Miller. Following this transaction, these executives will convert their remaining ownership interest in DWR for an approximate 8.5% ownership stake within a newly formed Herman Miller consumer business unit.

The purchase price will be funded using a combination of existing cash and borrowings against the company's available unsecured revolving credit facility. The Company anticipates the closing of the acquisition, which remains subject to regulatory approval or expiration of applicable waiting periods, will occur on or about July 28, 2014.

The Company issued a press release on July 17, 2014, announcing the execution of the acquisition agreement. A copy of this press release is attached as Exhibit 99.1.

Item 7.01. Regulation FD Disclosure

Herman Miller will be hosting an analyst day and investor webcast on Thursday, July 31, 2014. This presentation will include comments from Brian Walker, Chief Executive Officer, and other members of the Herman Miller management team on the company's strategy, including the acquisition of DWR. The presentation will also include a summary of the company's updated three-year financial goals. The webcast presentation will begin at 10:30 a.m. Central time (11:30 a.m. Eastern). Additional details on this event can be found at the company's Investor web page at

  Add MLHR to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for MLHR - All Recent SEC Filings
Copyright © 2015 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.