Article: HFS Seeks Shares of Virginia-Based Jackson Hewitt After Buyout Agreement.(Originated from The Virginian-Pilot, Norfolk, Va.)

VIRGINIA BEACH--Nov. 27--HFS Inc., the lodging and real estate company that last week announced an agreement to buy Jackson Hewitt Inc. for $480 million, has begun shopping for shares of the tax-preparation service.

In an agreement approved by Jackson Hewitt's board, HFS has offered $68 in cash for each of Jackson Hewitt's 6.66 million common shares and 440,684 shares reserved for stock options.

HFS is likely to have little difficulty gaining control of the Virginia Beach-based company. In a recent filing with the Securities and Exchange Commission, HFS said Jackson Hewitt executives and directors with control of over 817,593 shares have agreed ...

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