03:50 PM EST - Onex Corp. : announced that it has given a proposal to Human Service Company ResCare Inc. to acquire all of the outstanding shares of common stock of ResCare not owned by affiliates of Onex for $12.60 per share. The definitive agreement for the Transaction would provide for a "go-shop" period of 30 days during which the Company could solicit alternative offers, and a termination fee equal to 3% of the fully-diluted equity of the Company valued at the higher of our offer price or the price to be paid in an alternative transaction, which would be payable by the Company if the Board of Directors chose to support an alternative transaction and under other customary circumstances, the company said. Onex Corp.
shares T.OCX are trading down $0.43 at $27.47.
