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Article: PARENT FIRM TO SPIN OFF JACKSON HEWITT IN IPO.(BUSINESS)
- Article from:
- The Virginian-Pilot (Norfolk, VA)
- Article date:
- June 17, 2004
CopyrightCOPYRIGHT 2004 The Virginian Pilot-Ledger Star. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Tom shean THE VIRGINIAN-PILOT
Jackson Hewitt Tax Service Inc., which evolved from a Hampton Roads chain of tax-return preparation offices into the top rival of H&R Block, is about to be sold again.
The company, a unit of Cendant Corp., expects to raise as much as $800 million from an initial public offering of Jackson Hewitt shares, according to a filing with the Securities and Exchange Commission. All proceeds from the stock offering will go to Cendant.
Cendant, based in Parsippany, N.J., markets and supports several franchised businesses, including Century 21 real estate brokerages, Ramada and Howard Johnson hotels, and Avis car ...