Lone Star launches £630m bid for McCarthy & Stone

By Joey Gardiner2020-10-23T08:46:00

Board of retirement housebuilder McCarthy & Stone backs buy out by US private equity giant

US private equity giant Lone Star has launched a £630m bid to buy listed retirement home specialist McCarthy & Stone.

The bid, which has the “unanimous” backing of the McCarthy & Stone board, will see the US firm pay a price nearly 40% above the value of yesterday’s closing share price, and almost 60% above the average share price for the past three months.

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