Grant Thornton Advisors to buy CBIZ for USD 5 billion in all-cash deal - CBZ News | RalliesGrant Thornton Advisors to buy CBIZ for USD 5 billion in all-cash deal
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CBZ• Grant Thornton Advisors to buy CBIZ in all-cash deal
- Grant Thornton Advisors agreed to buy CBIZ in an all-cash deal valued at USD 5 billion.
- CBIZ shareholders would receive USD 55 per share, a roughly 54% premium to the 30-day volume-weighted average price.
- New Mountain Capital will invest additional equity to support the transaction.
- Grant Thornton’s U.S. business is expected to reach more than USD 5 billion in annual domestic revenue after closing.
- Grant Thornton plans to separate CBIZ’s Benefits and Insurance Services unit into a stand-alone company backed by New Mountain.
