Paychex Is Said to Be in Talks to Buy Smaller Rival Paycor (2)

Paychex Inc. is in advanced talks to acquire Paycor HCM Inc., a smaller rival in payroll processing, according to people with knowledge of the matter.

A deal may be announced as soon as this week, said the people, who asked to not be identified because the details aren’t public. Nothing has been finalized and talks could still fall through, the people added.

Representatives for Paychex and Paycor didn’t respond to requests for comment on Sunday outside regular business hours.

Shares of Paycor jumped as much as 24% in premarket trading on Monday following the Bloomberg News report. Paycor had ...