08:49 AM EDT, 10/08/2025 (MT Newswires) -- T. Rowe Price Group ( TROW ) , which is one of Dayforce's ( DAY ) largest shareholders, said in a regulatory filing Wednesday it opposes an acquisition of the workforce management platform it said is "at an underwhelming valuation."

Dayforce ( DAY ) announced in August that it has agreed to be taken private by software investment firm Thoma Bravo in an all-cash deal valued at $12.3 billion.

Although T. Rowe Price ( TROW ) didn't mention Thoma Bravo by name, it said it will vote against a proposed acquisition that will be presented at Dayforce's ( DAY ) special meeting of shareholders Nov. 12. T. Rowe Price ( TROW ) owns approximately 25 million shares of Dayforce's ( DAY ) common stock, according to the filing.

"Despite Dayforce's ( DAY ) successful execution and exciting future, we believe the stock has been pressured by misplaced short-term pessimism on the sector as a whole and investor focus on metrics that are not reflective of the underlying strength in the business," T. Rowe Price ( TROW ) said in the filing.