ResCare gets purchase proposal from Onex that considers debt financing

By Sara Rosenberg

New York, Aug. 16 - ResCare Inc. has received a buyout proposal from Onex Corp., under which the contemplated debt financing structure would not exceed 3.5 times EBITDA at close, according to a news release.

Onex is offering to purchase the company for $12.60 per share.

The transaction would not be subject to financing.

Entry into a definitive agreement is subject to approval by the company's board of directors and the participation by key members of the company's management.

The proposal will expire if a definitive agreement for the transaction is not entered into on or before Sept. 1.

ResCare is a Louisville, Ky.-based provider of home care to the elderly and persons with disabilities.

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