---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-25-007996"
form_type: "8-K/A"
ticker: "PAYX"
cik: "0000723531"
company_name: "PAYCHEX INC"
filed_at: "2025-06-27T23:59:59+00:00"
generated_at: "2026-05-18T17:04:59.036652+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Paychex completes Paycor acquisition; pro forma shows diluted EPS of $2.08 for H1 FY2025

## Summary
- Pro forma revenue $2.98B for six months ended Nov 30, 2024; combined net income $764.1M.
- Pro forma diluted EPS $2.08 vs Paychex standalone $2.32; annual EPS $3.84 vs $4.67.
- Merger consideration $22.50/share in cash; funded via $4.2B notes offering (5.100%, 5.350%, 5.600% due 2030-2035).
- Goodwill increases to $4.48B; intangible assets $1.59B from fair value adjustments.
- Paycor had net loss of $9.3M in its H1 ended Dec 31, 2024 and $58.9M loss in FY2024.

## SEC filing metadata
- accession: 0000950103-25-007996
- form_type: 8-K/A
- ticker: PAYX
- cik: 0000723531
- company_name: PAYCHEX INC
- filed_at: 2025-06-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723531/000095010325007996/0000950103-25-007996-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723531/000095010325007996/dp230646_8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-25-007996
- JSON: https://secwatch.observer/filing/0000950103-25-007996.json
- Plain text: https://secwatch.observer/filing/0000950103-25-007996.txt

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