Grant Thornton CBIZ deal valued at $5bn in all-cash takeover
Grant Thornton will acquire CBIZ in an all-cash deal valued at $5bn, offering $55 per share, a 54% premium. The transaction, expected to close in Q4 2026, will create a top 5 US professional services firm. CBIZ's share price had fallen 40% over the prior year. The deal includes a go-shop period and shareholder protections. CBIZ's insurance segment will be spun off into a standalone company.
How this was made
The 30-second read
Why it matters
The deal offers a sizable premium to CBIZ shareholders and may reshape the competitive landscape among mid‑market advisory firms.
Market read
The transaction provides a clear, time‑sensitive catalyst for CBIZ and signals further consolidation in the professional services sector.
What to watch
Regulatory approval risk and integration challenges could delay value realization.
Background
Grant Thornton Advisors is acquiring CBIZ in a $5 billion all‑cash transaction, creating the fifth‑largest U.S. professional services firm.
Market effects
Consolidation in professional services may pressure peers like RSM and BDO.
U.S. professional services sector sees increased M&A activity.
Creates a larger global advisory firm, affecting cross‑border advisory market dynamics.
Counterpoint
If a superior bid emerges before the go‑shop deadline, CBIZ shareholders could benefit from a higher offer.
Key entities
- companyCBIZ
U.S. listed management consultancy target of the acquisition.
- companyGrant Thornton Advisors
Private advisory firm leading the acquisition.
- private_equityNew Mountain Capital
Equity investor supporting the transaction.

