---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-004790"
form_type: "8-K"
ticker: "PAYX"
cik: "0000723531"
company_name: "PAYCHEX INC"
filed_at: "2025-04-14T23:59:59+00:00"
generated_at: "2026-05-23T15:51:23.119653+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Paychex completes $4.1B all-cash acquisition of Paycor

## Summary
- 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.

## SEC filing metadata
- accession: 0000950103-25-004790
- form_type: 8-K
- ticker: PAYX
- cik: 0000723531
- company_name: PAYCHEX INC
- filed_at: 2025-04-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723531/000095010325004790/0000950103-25-004790-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723531/000095010325004790/dp227639_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-004790
- JSON: https://secwatch.observer/filing/0000950103-25-004790.json
- Plain text: https://secwatch.observer/filing/0000950103-25-004790.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.