ResCare Announces Acquisition Agreement With Onex Partners III

ResCare, Inc. (Nasdaq:RSCR), a provider of home care to the elderly and persons with disabilities, announced earlier this month that it has entered into a definitive sale agreement with an affiliate of Onex Corporation.  As part of the agreement, ResCare has the ability to solicit other proposals until October 16, 2010 and other agreements executed between ResCare and another purchaser would be subject to a break-up fee. 

Ronald G. Geary, Chairman of the Board and the Special Committee, said, "After a thorough and extensive evaluation process, the Special Committee and our Board have endorsed this transaction with Onex as being in the best interests of our company, its shareholders and the people who depend on our services. The tender offer by Onex requires that a majority of the public shares be tendered, which gives individual shareholders the opportunity to make their own evaluation of the transaction."