Troubled-Plagued Rescare Terminates $700 Million Investment Deal; Bids For Work In Ontario; Is Ordered To Turn Over Receivership Of Nine Supported-Living Homes In New Mexico

OPEN MINDS, The Behavioral Health & Social Service Industry Analyst Industry News ResCare Inc. announced June 29, 2000 that its agreement with an investor group to acquire all the outstanding shares of ResCare common stock has been mutually terminated. The agreement, which ResCare had indicated was subject to a number of conditions, was originally announced on April 12, 2000. In the proposed transaction, a company formed by The Carlyle Group, Madison Dearborn Partners, Bear Stearns Merchant Banking, and members of ResCare's senior management would have merged into ResCare Inc. The transaction was expected to be valued at approximately $700 . . .