M&A Deal Summary

H&R Block Acquires American Express Tax & Business Services

On August 1, 2005, H&R Block acquired business services company American Express Tax & Business Services from American Express for 220M USD

Acquisition Highlights
  • This is H&R Block’s 2nd transaction in the Business Services sector.
  • This is H&R Block’s 3rd largest (disclosed) transaction.
  • This is H&R Block’s 6th transaction in the United States.
  • This is H&R Block’s 2nd transaction in Minnesota.

M&A Deal Summary
Date 2005-08-01
Target American Express Tax & Business Services
Sector Business Services
Buyer(s) H&R Block
Sellers(s) American Express
Deal Type Divestiture
Deal Value 220M USD

Target

American Express Tax & Business Services

Minneapolis, Minnesota, United States
American Express' Tax and Business Services Division is an accounting practice serving mid-sized businesses.

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Buyer(S) 1

Buyer

H&R Block

Kansas City, Missouri, United States
Category Company
Founded 1955
Sector Consumer Services
Employees3,800
Revenue 3.5B USD (2023)
DESCRIPTION
H&R Block's corporate headquarters in Kansas City, Missouri.
H&R Block's corporate headquarters in Kansas City, Missouri.

H&R Block is a provider of income tax return preparation and related services and products via a network of approximately 13,000 company-owned and franchised offices and through TaxCut online and software solutions. H&R Block was formed in 1955 and is based in Kansas City, Missouri.

DEAL STATS #
Overall 6 of 8
Sector (Business Services) 2 of 2
Type (Divestiture) 2 of 2
State (Minnesota) 2 of 2
Country (United States) 6 of 7
Year (2005) 2 of 2
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-07-07 TaxNet

Carlsbad, California, United States

TaxNet, Inc. is a provider of customized online tax services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-17 Option One Mortgage

Santa Ana, California, United States

Option One Mortgage is a high-risk mortgage lender. The Company was formed in 1992 and is based in Santa Ana, California.

Sell $1.1B

Seller(S) 1

SELLER

American Express

New York, New York, United States
Category Company
Founded 1850
Sector Financial Services
Employees74,600
Revenue 60.4B USD (2023)
DESCRIPTION
American Express' regional offices in downtown Sydney, Australia.
American Express' regional offices in downtown Sydney, Australia.

American Express is a global financial services company offering payment and credit services to consumers and businesses. The Company's principal products and services are charge and credit payment card products and travel-related services. American Express was incorporated in 1850 and is based in New York City.

DEAL STATS #
Overall 2 of 7
Sector (Business Services) 1 of 2
Type (Divestiture) 1 of 4
State (Minnesota) 1 of 2
Country (United States) 2 of 5
Year (2005) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-10-01 Threadneedle Asset Management Holdings

Essex, United Kingdom

Threadneedle Investments is a leading active investment manager with a strong track record of outperformance across asset classes. Our investment approach is active, client-focused and performance driven.

Buy £340M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-30 Ameriprise Financial

Minneapolis, Minnesota, United States

Ameriprise Financial is a diversified financial services company. Ameriprise offers a broad range of products and services designed to achieve the financial objectives of individual and institutional clients. Ameriprise Financial was incorporated in 1894 and is based in Minneapolis, Minnesota.

Sell -
Mergr

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