H&R Block Sells Consulting Firm For $610M

Law360, New York (August 23, 2011, 11:53 AM EDT) -- H&R Block Inc. has agreed to sell most assets of its tax and consulting firm RSM McGladrey Inc. to partner McGladrey & Pullen LLP for about $610 million, the companies announced Tuesday.

H&R Block, which will cover roughly $65 million of the transaction, said it decided to sell the unit to focus on its core business. As part of the deal and the closure of RSM operations excluded from the sale, H&R Block will record a noncash, post-tax charge of about $53 million, or 17 cents...
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