H&R Block Announces Final Results of Tender Offer
H&R Block, Inc. (NYSE: HRB), the world’s largest consumer tax services provider, today announced the final results of its “modified Dutch auction” tender offer, which expired at 5:00 P.M., New York City time, on Friday, October 2, 2015.
Based on the final count by the depositary for the tender offer, H&R Block accepted for purchase approximately 40.5 million shares of H&R Block’s common stock at a purchase price of $37.00 per share, for a total cost of approximately $1.5 billion, excluding fees and expenses related to the tender offer. The repurchased shares represent approximately 14.7% of H&R Block’s common stock outstanding as of September 30, 2015.
The tender offer was oversubscribed. Pursuant to the terms of the tender offer, shares were accepted on a pro rata basis, except for tenders of odd lots, which were accepted in full. H&R Block has determined that the proration factor for the tender offer, after giving effect to the priority of odd lots, is approximately 83.5%. The depositary will promptly pay for the shares accepted for purchase and will return all other shares tendered and not purchased.
J.P. Morgan Securities LLC served as dealer manager for the tender offer. Shareholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, Georgeson Inc., at (866) 695-6078 (toll-free) or (781) 575-2137.
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About H&R Block, Inc.
H&R Block, Inc. (NYSE: HRB) is the world’s largest consumer tax services provider. More than 680 million tax returns have been prepared worldwide by and through H&R Block since 1955. In fiscal 2015, H&R Block had annual revenues of nearly $3.1 billion with 24.2 million tax returns prepared worldwide. Tax return preparation services are provided by professional tax preparers in approximately 12,000 company-owned and franchise retail tax offices worldwide, and through H&R Block Tax Software products. H&R Block also offers adjacent Tax Plus products and services. For more information, visit the H&R Block Newsroom at https://www.hrblock.com/tax-center/newsroom.
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