The acquisition values CBIZ at $55 per share, a 54% premium over its 30-day average price, creating a top-five U.S. professional services firm.
Grant Thornton Advisors will acquire CBIZ in a $5 billion all-cash transaction, valuing each CBIZ share at $55. The deal marks a 54% premium over CBIZ’s 30-day volume-weighted average share price and a 17.8% premium over its latest closing price.
The combined entity will generate nearly $7.5 billion in annual revenue and employ over 34,500 professionals across more than 20 countries. The transaction is the largest in the sector in over 25 years and positions Grant Thornton as the fifth-largest U.S. professional services provider.
Post-acquisition, CBIZ’s benefits and insurance services segment will be spun off into a separate entity backed by New Mountain Capital. The Big Four accounting firms—Deloitte, EY, KPMG, and PwC—currently dominate the U.S. market.