CBIZ, Inc. — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 92/100
What the filing says
Grant Thornton U.S., backed by New Mountain Capital, agreed to acquire CBIZ in an all-cash merger at $55.00 per share, valuing the company at $5.0 billion enterprise value. The transaction is expected to close in Q4 2026, subject to shareholder approval and regulatory clearances. Upon closing, CBIZ will be taken private and delisted from NYSE. CBIZ also reported H1 2026 revenue of $1.53B (up 0.6% YoY) and net income of $171M (up 4.1% YoY); Q2 2026 revenue was flat at $682M with net income down 55.6% to $19M.
Why this rating
Transformational M&A: $5.0B enterprise value is ~1.3x CBIZ's $3.8B market cap—material premium. Going-private fundamentally changes shareholder structure and company trajectory. Execution risk (regulatory, financing, shareholder approval) is material. Financially, the underlying business showed mixed H1 results: revenue essentially flat, adjusted EBITDA down 3.8%, but free cash flow up $99M. Premium justifies high significance score.
Extracted items
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