CBIZ completes $5B cash merger with Viking ParentCo
CBIZ common stock stopped trading, while the Benefits & Insurance Services segment became an independent company backed by New Mountain Capital.
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Rhea-AI Filing Summary
CBIZ, Inc. completed its merger on November 2, 2026, becoming a wholly owned subsidiary of Viking ParentCo, an affiliate of Grant Thornton Advisors. The all-cash transaction had a stated enterprise value of $5 billion; approximately $5.235 billion in funds used for the merger and related transactions was financed through equity and debt.
CBIZ common stock ceased trading on the NYSE, and the company requested delisting and deregistration. At closing, stockholders' rights ended except for the right to merger consideration or appraisal rights for holders who properly demanded and did not withdraw them. CBIZ repaid its credit facility in full; its directors resigned, its officers ceased serving, and Jim Peko was appointed CEO of the surviving corporation. Its Benefits & Insurance Services segment became an independent company backed by New Mountain Capital.
Filing Explained
The CFO’s merger-related tax reimbursement is conditional and capped at two million three hundred sixty-eight thousand nine hundred forty-six dollars.
A separate attest transaction involving Grant Thornton LLP and CBIZ CPAs remains expected to close later this year; CBIZ CPAs will remain a separate licensed public accounting firm during a transition, after which integration with Grant Thornton LLP is expected.
The reporting transition remains prospective: after Form 25 becomes effective, the surviving corporation intends to file Form 15 seeking termination of registration under Section 12(g) and suspension of its Exchange Act reporting obligations.
A letter agreement provides CFO Brad Lakhia reimbursement, if required, for specified excise taxes on merger-related payments, with all payments capped at
8-K Event Classification
Key Figures
Key Terms
enterprise value financial
appraisal rights regulatory
Form 25 regulatory
Form 15 regulatory
alternative practice structure technical
FAQ
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