DOJ Slams H&R Block's $288M Bid To Buy TaxACT Maker

Law360, Washington (October 3, 2011, 9:15 PM EDT) -- The U.S. Department of Justice on Monday wrapped up closing arguments in its antitrust suit seeking to halt H&R Block Inc.'s proposed $287.6 acquisition of the maker of TaxACT software with a renewed assault on the company's market definition.

The proposed H&R Block merger with 2SS Holdings Inc., which makes the software, would leave only two major players in the digital tax prep services market, with the other being Intuit Inc.'s TurboTax brand, according to the DOJ.

The DOJ contends that the market for digital do-it-yourself...
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