Paychex to buy payroll firm Paycor in $4.1 bln deal (updated)
07/01/2025 14:20
(Adds share movement and details from the release in paragraphs
2-3)
Jan 7 (Reuters) - HR management firm Paychex PAYX.O
said on Tuesday it has agreed to acquire payroll processing firm
Paycor PYCR.O for about $4.1 billion in cash.
Paychex will pay $22.50 for each Paycor share, representing
about 21.4% premium to Paycor's last close on Friday, before the
news was reported.
Shares of the Cincinnati-based Paycor fell 3.4% in premarket
trading. Paychex rose 1.46%.
(Reporting by Priyanka.G in Bengaluru; Editing by Shilpi
Majumdar)
((Priyanka.G@thomsonreuters.com))