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

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.