Grant Thornton Advisors announced plans to acquire professional‑services firm CBIZ in a nearly $3 billion all‑cash transaction. The deal values CBIZ at $55 per share, an approximate 18 % premium over Tuesday’s $46.70 closing price. The transaction would see Grant Thornton become the fifth‑largest U.S. provider of tax and advisory services.

With an enterprise value of about $5 billion and more than $5 billion in annual domestic revenue, the merger would cement Grant Thornton’s position among the top five firms in the industry. The combined entity would benefit from expanded geographic reach and a broader service portfolio.

Private‑equity firm New Mountain Capital, which invested in Grant Thornton in 2024, will make an additional investment to support the deal. Grant Thornton plans to spin off CBIZ’s benefits and insurance services into a stand‑alone entity backed by New Mountain Capital, enhancing focus on core advisory offerings.

The transaction, which is expected to close by year‑end, includes a go‑shop clause allowing CBIZ to seek alternative bids until Aug. 27. The companies confirmed that the agreement is subject to customary closing conditions and regulatory approvals.