PENFIELD (dpa-AFX) - Paychex Inc. (PAYX) announced that the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended ('HSR'), has expired with respect to Paychex's acquisition of Paycor HCM Inc. (PYCR), a provider of HCM, payroll and talent software.
The expiration of the HSR waiting period satisfies one of the major conditions to the closing of the acquisition, which remains subject to other customary closing conditions. The transaction is expected to close within the first half of calendar year 2025.
Last month, Paychex agreed to acquire Paycor HCM in an all-cash deal for $22.50 per share, representing an enterprise value of approximately $4.1 billion.
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