CBIZ (CBZ) shares surged in morning trade on Wednesday after Grant Thornton Advisors LLC agreed to acquire the professional services firm in an all-cash transaction valued at $5 billion, sending the stock toward its largest single-day gain in over two decades.
Under the terms of the agreement, CBIZ shareholders will receive $55 per share in cash, representing a premium of approximately 54% to the company’s 30-day volume-weighted average share price.
CBZ stock rallied nearly 17% in morning trade despite weakness in the broader market, on track to hit a six-month high, and pushing its year-to-date performance into positive territory. On Stocktwits, retail sentiment around the company dropped to ‘bearish’ from ‘neutral’ territory over the past day.
The shares were also on track for their biggest daily percentage gain since 2003, as per Koyfin data.
The acquisition announcement came alongside CBIZ reporting second-quarter (Q2) results. Earnings per share came in at $0.91, ahead of analyst expectations of $0.72, as per Koyfin. Revenue totaled $682 million, slightly below consensus estimates of $689 million.
Grant Thornton Advisors said the acquisition will create the fifth-largest provider of professional services, tax, and advisory services in the U.S. It added that the merger would allow it to operate across more than 20 countries and territories, generating nearly $7.5 billion in revenue and employing more than 34,500 professionals globally.
CBIZ CEO Jerry Grisko said the combination will provide shareholders with value while expanding opportunities for employees and clients. “This is a historic combination with a complementary cultural and strategic fit,” he said.
The deal is expected to close in the fourth quarter (Q4) of 2026, pending shareholder and regulatory approvals.
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