RSM McGladrey announced that its $220 million acquisition of American Express Tax and Business Services is a done deal after receiving approval from the Department of Justice.

The transaction means that McGladrey, a business unit of H&R Block Inc., will double its employees to more than 5,000, and generate more than $1 billion in annual revenues. The company has billed the merger, announced Aug. 1, as the creation of the largest U.S. accounting, tax and business services organization focused primarily on the needs of midsized businesses.

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