Grant Thornton Advisors to Acquire CBIZ in $5 Billion All-Cash Deal at $55/Share
CBZ sits 92% above its 52-week low of $24.29.
Summary
CBIZ has agreed to be acquired by Grant Thornton Advisors for $55.00 per share in cash, a $5 billion enterprise value deal that will take the company private. The transaction represents a 54% premium and is expected to close in Q4 2026.
Key Events · M&A and Partnerships · CBZ
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Acquisition Agreement Signed
On July 28, 2026, CBIZ entered into a definitive merger agreement with Grant Thornton Advisors for an all-cash acquisition at $55.00 per share, a 54% premium to the 30-day VWAP and an enterprise value of $5 billion.
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Financing Secured
Equity and debt financing of $5.2 billion has been committed by New Mountain Capital and third-party sources to fund the transaction and related expenses.
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Go-Shop Period Active
A 30-day go-shop period ending August 27, 2026, allows CBIZ to solicit alternative proposals. Accepting a superior proposal during this window triggers a termination fee of $49.6 million, compared with $107.5 million thereafter.
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Executive Severance and Retention Plans Adopted
The board adopted a Change in Control Severance Plan and transaction/retention bonus programs for key executives. CEO Jerome Grisko is eligible for up to $1.3 million in bonuses.
Analysis · CBZ · Trade & Services
A definitive merger agreement will see CBIZ acquired by Grant Thornton Advisors in an all-cash transaction valued at $5 billion. Shareholders are set to receive $55.00 per share, a 54% premium to the 30-day volume-weighted average price. Backing the deal is New Mountain Capital, which together with third-party sources has committed $5.2 billion in financing. A 30-day go-shop period gives CBIZ room to solicit alternative proposals, and if a superior offer emerges during that window, a lower termination fee applies. Closing is expected in Q4 2026, pending shareholder and regulatory approvals. This thesis-altering event will take CBIZ private and create the fifth-largest professional services firm in the U.S.
At the time of this filing, CBZ was trading at $46.70 on NYSE in the Trade & Services sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $24.29 to $77.91. This filing was assessed with positive market sentiment and an importance score of 10 out of 10.