Paycor down; Paychex strikes $4.1 bln deal to buy rival payroll firm
07/01/2025 14:42
** HR management software provider Paycor HCM's PYCR.O
shares down 3.3% at $22.12, while shares of payroll services
provider Paychex PAYX.O rise 1.4% to $137.93
** PAYX will buy PYCR for about $4.1 bln in cash
** PAYX will pay $22.50 for each Paycor share, representing
about 21.4% premium to PYCR's last close on Friday, before
reports on the deal
** Combined offering will be one of the most comprehensive
HCM portfolios in the industry - companies
** Deal expected to close in first half of 2025
** In 2024, PAYX shares had risen ~18%, while PYCR fell ~14%
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))