Article: HFS to Buy Tax Preparer Jackson Hewitt

Shareholders of Jackson Hewitt Inc., the nation's second-largest tax preparation firm, have plenty to be pleased about these days.

The Virginia Beach company's stock is leading the region in performance, now trading at 18 times its $3.75-a-share price at this time last year.

And if that wasn't enough, shareholders got some even better news Wednesday when HFS Inc., the New Jersey-based real estate and travel services franchisor giant, announced it will acquire Jackson Hewitt for $480 million in cash, or $68 a share. The sale price represents a 32 percent premium over Jackson Hewitt's closing price of $51.50 Tuesday. Jackson Hewitt's shares closed yesterday on the Nasdaq Stock ...

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