CINCINNATI (Cincinnati Business Courier) – Paycor HCM Inc. founder Bob Coughlin’s reaction after hearing that the company had agreed to be acquired by rival Paychex Inc. for $4.1 billion wasn’t about the loss of the company’s independence as much as it was the effect the deal could have.
“If it has any negative effect on the employees or the community, that would be my only regret,” he said. “But it’s not something I control. Nothing is forever, so you focus on the positives and move on.”
Rochester, N.Y.-based Paychex (Nasdaq: PAYX) and Norwood-based Paycor (Nasdaq: PYCR) agreed to the acquisition Jan. 7. The deal, which is expected to close by June 30, calls for Paychex to pay $22.50 per share in cash to Paycor shareholders…