Paychex completes $4.1B all-cash acquisition of Paycor

PAYCHEX INC

All-cash deal at $22.50 per Paycor share, ~$4.1B enterprise value.
Expected annual cost synergies >$80M in fiscal 2026.
Deal expected to be accretive to adjusted diluted EPS in fiscal 2026.
Combined HCM portfolio targets upmarket expansion and revenue synergies.
Dividend policy and strong balance sheet commitments reaffirmed.

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