- It was originally offered at $1.3 billion.
- Then it was valued at $1.1 billion
- Cerberus was to pay $800 million; as $300 million was the valuation haircut on the the $1.1 billion.
- Today, HRB closed Option One, laid off 620 employees, and took another $75 million charge.
- The deal with Cerberus is off, and their still isn't a sale of the origination business.
- The servicing business will have $125 million impairment.
- And there's no break-up fee.
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