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The Economic Times
The Economic Times
Akash Podishetti

CBIZ shares soar 17% after Grant Thornton agrees to buy company in $5 billion cash deal

CBIZ Grant Thornton United States

Cbiz shares jumped 17% on Wednesday after Grant Thornton Advisors agreed to buy the professional services firm for $5 billion in cash, a deal that would create one of the largest accounting and advisory services providers in the US.

Cbiz shareholders will receive $55 per share, a 17.8% premium to the stock’s previous close. The shares rose 17.5% in premarket trade after the announcement.

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