Overview

• Dayforce said it is in advanced discussions on a $70-per-share buyout that would value the company at about $11.18 billion based on Reuters calculations.
• The indicated price reflects roughly a 32.4% premium to the Aug. 15 close before reports of talks surfaced.
• The company cautioned that there is no assurance a transaction will be reached, with reporting split on timing from an imminent announcement to potential delays or failure.
• Shares jumped about 26% on Monday following the initial reports and were modestly higher again on Wednesday, leaving the stock well above pre-report levels.
• The talks come as private equity targets subscription software and AI capabilities, alongside consolidation in human-capital software such as Paychex’s $4.1 billion Paycor deal and ADP’s purchase of WorkForce Software, while Dayforce recently posted Q2 net income of $21.3 million on roughly 10% revenue growth.