Onex Ready With $340M Deal To Buy Rest Of ResCare

Law360, New York (September 7, 2010, 12:55 PM EDT) -- Job training company ResCare Inc. said Monday that an affiliate of the Canadian private equity firm Onex Corp. plans to buy its outstanding stock for $340 million, or $13.25 per share, in a sweetened cash deal.

Onex Partners III LP is to buy outstanding shares, except for stock currently held by participating members of ResCare's management or already owned by Onex, at a 30 percent premium over ResCare's share price as of Aug. 13, the Louisville Ky.-based ResCare said.

On Aug. 16 ResCare said Onex had...
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