(Reuters) -HR software provider Dayforce said on Wednesday it was in advanced discussions to be acquired by private equity firm Thoma Bravo for $70 per share.
The offer marks a premium of 32.4% based on the stock’s closing price on August 15, before the talks were first reported, and a deal value of $11.18 billion, according to Reuters calculations.
Dayforce said there can be no assurances if an agreement for a transaction would be reached.
Uncertain spending from key customers facing constant shifts in trade policy and a deteriorating labor market have pressured Dayforce, formerly known as Ceridian.
The company, which provides human capital management and payroll services through its software platform, has seen its stock lose more than 9% of its value so far this year.
(Reporting by Zaheer Kachwala in Bengaluru; Editing by Pooja Desai)
Comments