Purchase Clears Hurdle
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SANTA ANA — Tax giant H&R; Block’s proposed acquisition of high-risk mortgage lender Option One Mortgage Corp. in Santa Ana has received early clearance from the Federal Trade Commission.
H&R; Block, based in Kansas City, plans to purchase Option One from Fleet Financial Group Inc. for $190 million in cash. Option One made $1.1 billion in loans nationwide last year. Block officials said they expect the deal to close in June.
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