Overview
- The companies announced a definitive all‑cash agreement on Wednesday that values CBIZ at $5 billion and pays shareholders $55 per share, and CBIZ’s board unanimously recommended the deal.
- CBIZ shares jumped about 17% on the announcement as investors priced in the $55 cash offer and the likelihood of a close.
- Grant Thornton says the combined firm would be the fifth‑largest U.S. professional, tax and advisory provider with operations in more than 20 countries and projected revenue near $7.5 billion.
- The transaction includes a planned post‑close separation of CBIZ’s Benefits and Insurance Services into a New Mountain Capital‑backed standalone, with Deutsche Bank advising Grant Thornton and Goldman Sachs advising CBIZ.
- Next steps include a go‑shop period that runs through August 27, 2026, a shareholder vote and regulatory approvals before the targeted Q4 2026 closing, and the deal will delist CBIZ from the NYSE if completed.