Adds share movement and details from the release in paragraphs 2-3
Jan 7 (Reuters) - HR management firm Paychex PAYX.O said on Tuesday it has agreed to acquire payroll processing firm Paycor PYCR.O for about $4.1 billion in cash.
Paychex will pay $22.50 for each Paycor share, representing about 21.4% premium to Paycor's last close on Friday, before the news was reported.
Shares of the Cincinnati-based Paycor fell 3.4% in premarket trading. Paychex rose 1.46%.
(Reporting by Priyanka.G in Bengaluru; Editing by Shilpi Majumdar)
((Priyanka.G@thomsonreuters.com))
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