CBIZ, Inc. filed a Form 8-K on November 2, 2026, disclosing the completion of its merger with Viking ParentCo, Inc., an affiliate of Grant Thornton Advisors LLC, making CBIZ a wholly owned subsidiary of Parent as of that date.

Key Highlights

  • Merger closed November 2, 2026: Viking MergerCo, Inc. merged with and into CBIZ, Inc., with CBIZ surviving as a wholly owned subsidiary of Viking ParentCo, Inc.
  • Cash consideration of $55.00 per share: Each eligible share of CBIZ common stock was cancelled and converted into the right to receive $55.00 in cash, without interest.
  • Merger Agreement dated July 28, 2026: The transaction was conducted under an Agreement and Plan of Merger signed by CBIZ, Viking ParentCo, and Viking MergerCo.
  • Credit facility terminated: On November 2, 2026, the Company caused the termination and repayment in full of all obligations under its Amended and Restated Credit Agreement dated November 1, 2024, with Bank of America, N.A. as administrative agent.
  • Equity awards converted or replaced: Outstanding options, RSUs, PSUs, and EACB units were cancelled and converted into cash rights or replacement awards based on the $55.00 Merger Consideration, according to the filing.
  • Unvested awards receive replacement treatment: Unvested RSUs and PSUs were converted into cash-denominated Replacement RSU Awards and Replacement PSU Awards, vesting on the original schedule subject to continued employment with Parent or its affiliates.

CBIZ Becomes Wholly Owned Subsidiary of Grant Thornton Affiliate After Merger Closing

According to the filing, the merger was completed on November 2, 2026, when Viking MergerCo, Inc. merged with and into CBIZ, Inc. under the terms of the Merger Agreement dated July 28, 2026. As a result, the filing states, "the Company became a wholly owned subsidiary of Parent," and the separate existence of Merger Sub ceased. Parent and Merger Sub are described in the filing as affiliates of Grant Thornton Advisors LLC. CBIZ common stock traded on the New York Stock Exchange under the symbol NYSE:CBZ prior to the transaction.

The filing details the treatment of each class of equity at the Effective Time. Eligible shares of CBIZ common stock were cancelled and automatically converted into the right to receive $55.00 per share in cash, without interest. Vested company options were converted into a cash payment equal to the excess of $55.00 over the applicable exercise price, multiplied by the number of shares subject to the option. Vested RSUs and Marcum Performance Shares were likewise converted into the right to receive the $55.00 Merger Consideration per unit. Unvested RSUs became Replacement RSU Awards payable in cash on the original vesting schedule, subject to continued employment, with full vesting triggered by termination without cause, death, disability, normal retirement, or resignation for good reason, according to the filing.

Unvested PSUs were converted into Replacement PSU Awards calculated using target performance levels, vesting on the last day of the applicable performance period under the same employment and termination conditions. Vested CBIZ Equity Aligned Cash Bonus Plan units were converted into the right to receive the Merger Consideration, while unvested units were assumed by Parent. Concurrently with the closing, the Company terminated and repaid in full all obligations under its credit facility with Bank of America, N.A. as administrative agent, the filing reported.

What Was Disclosed

CBIZ, Inc. disclosed the November 2, 2026, closing of its merger with Viking ParentCo, Inc., an affiliate of Grant Thornton Advisors LLC, the conversion of all outstanding common stock into $55.00 per share in cash, the treatment of all equity award classes, and the concurrent termination of its Bank of America credit facility.