Paychex (PAYX) is in advanced discussions to acquire its smaller rival Paycor HCM in a deal that could bring together two major players in the market for human-resources software and services, Bloomberg News reported Sunday, citing unnamed people with knowledge of the matter.
According to the report, Paycor has a market value of about $3.3 billion and the potential acquisition would mark the largest deal to date from Paychex.
A deal may take place as early as this week, but nothing has been finalized yet and the talks could still fall through, the sources said.
The companies did not immediately respond to MT Newswires' request for comment on the matter.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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