secwatch.observer — SEC 8-K summary
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Issuer:     CBIZ, Inc. (CBZ)
CIK:        0000944148
Form:       8-K
Filed at:   2024-11-01T23:59:59+00:00
Accession:  0001193125-24-249818
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 2.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CBIZ closes $2.3B acquisition of Marcum’s non-attest business, expects ~$2.8B combined revenue
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- Total consideration $2.3B: $637.6M cash to partners, $425.5M for obligations, plus 14.26M shares.
- New $2.0B credit facilities ($1.4B term loan, $600M revolver) funded the cash portion, maturing Nov 2029.
- Expected combined annualized revenue ~$2.8B; deal expected accretive in 2025 with ~10% adjusted EPS contribution.
- Marcum FY2023 revenue $1.17B, net income $414M (from audited financials filed as Exhibit 99.2).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944148/000119312524249818/0001193125-24-249818-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944148/000119312524249818/d883302d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-249818

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer