Shares of Dayforce rose 4% before the opening bell on Wednesday after the HR software provider confirmed it is in advanced talks to be acquired by private equity firm Thoma Bravo for $70 per share.
The proposed price represents a 32% premium to Dayforce’s closing level on August 15, the day before reports of the potential deal emerged.
A transaction would value the company at roughly US$11.2 billion.
While discussions are ongoing, Dayforce cautioned that a deal is not guaranteed.
Formerly known as Ceridian, the company offers cloud-based payroll and human capital management software.
Its business has faced pressure this year from weaker demand tied to shifting global trade policies and a softer labour market, particularly among large clients.
Ahead of the open, the stock was up $2.53 at $68.