Getting your player ready...
H&R Block Inc. can’t proceed with its proposed $287.5 million acquisition of the maker of TaxAct products because it would diminish competition in the tax preparation market, a federal judge ruled.
U.S. District Judge Beryl Howell in Washington on Monday supported the bid by the Justice Department to stop the deal. The department argued that the acquisition of closely held 2SS Holdings Inc. would cut competition by eliminating a company that vied aggressively with H&R Block and “disrupted” the digital do-it-yourself tax-preparation market.
