H&R Block Announces $3.5 Billion Share Repurchase Program and Capital Structure Plans
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H&R Block (HRB) Announces Commencement of $1.5B Common Stock 'Modified Dutch Auction' Tender
September 2, 2015 9:04 AM EDTH&R Block (NYSE: HRB) announced that it is commencing its previously announced "modified Dutch auction" tender offer for up to $1,500,000,000 of its common stock at a price per share not less than $32.25 and not greater than $37.00. The tender offer will expire at 5:00 P.M., New York City time, on Friday, October 2, 2015, unless extended by the company. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer, in each case, in accordance... More
Wedbush Raises Price Target on H&R Block (HRB) Following Completion of Bank Disposition
September 2, 2015 7:59 AM EDTWedbush reiterated an Outperform rating on H&R Block (NYSE: HRB), and raised the price target to $46.00 (from $44.00), following the completion of Bank Disposition. In addition to the bank sale, company announced a modified Dutch auction tender offer commencing on 9/2 for $1.5 billion of stock with a new long-term buyback authorization of $3.5... More
H&R Block (HRB) PT Bumped to $44 at Piper Jaffray on Early Bank Deal Closing and Buyback
September 2, 2015 7:40 AM EDTPiper Jaffray analyst George Tong reiterated an Overweight rating and bumped his price target on H&R Block (NYSE: HRB) to $44.00 (from $43.00) as the bank divestiture closes ahead of schedule and the company announced a new $3.5 billion stock buyback plan.
Tong... More
H&R Block (HRB) Announces New Capital Structure, Approves $3.5B Common Stock Buyback
September 1, 2015 4:04 PM EDTH&R Block (NYSE: HRB) announced that it has successfully closed its transaction to divest H&R Block Bank, selling certain assets and transferring certain liabilities, including all of its deposits, to BofI Federal Bank ("BofI") a full month earlier than expected. At the time of the closing, the bank made a one-time cash payment to BofI of approximately $419 million, which is approximately equal to the carrying value of the liabilities (including all deposit liabilities) assumed by BofI. The bank merged into its parent company, surrendered its bank charter, and... More
