Reference Equity Calls on CBIZ to Suspend Share Repurchases and Restart M&A Strategy

Category: Markets

Published: 2026-07-07T14:00:00.000Z

Reference Equity, a CBIZ shareholder, has called on the company to suspend share repurchases and restart its acquisition program funded with equity. The shareholder argues that equity-financed M&A would strengthen CBIZ's competitive position, reduce balance sheet leverage, and position the company to lead industry consolidation in an AI-disrupted market.

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