Paycor down; Paychex strikes $4.1 bln deal to buy rival payroll firm

Paycor HCM

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))