Shares of Steelcase (SCS) soared more than 50% Monday morning after the office furniture maker agreed to be acquired by HNI Corporation (HNI) for $2.2 billion in cash and stock. Shareholders of Grand Rapids,

HNI Corporation, which manufactures workplace furnishings, said it will acquire Steelcase in a $2.2 billion deal.

HNI agreed to buy office furniture maker Steelcase in a cash-and-stock deal worth about $2.2 billion, it said on Monday, as it looks to capitalize on more companies asking employees to return to office.