Shareholders back McCarthy & Stone sale to Lone Star

By Joey Gardiner2020-12-08T09:55:00

Buyout of retirement housebuilder by private equity firm approved despite significant vote against

US private equity firm Lone Star managed to secure approval of its £647m takeover of retirement housebuilder McCarthy & Stone in a shareholder vote late yesterday.

The firm won the backing of shareholders controlling 85.7% of the shares at a court meeting to approve the deal, just over the 75% threshold needed to take the firm private.

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