Lone Star bumps up offer for McCarthy & Stone
McCarthy & Stone
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Lone Star has sweetened its bid for London-listed retirement housebuilder McCarthy & stone.
FTSE All-Share
4,338.15
13:00 28/03/24
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FTSE Small Cap
6,370.51
13:00 28/03/24
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Household Goods & Home Construction
13,047.98
12:59 28/03/24
-0.35%
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The US private equity firm has upped its offer to 120p a share from 115p in October.
The offer price, which is a 44.6% premium to the McCarthy closing share price on 22 October, before the initial offer was made, values the company at around £647m.
McCarthy said its directors consider the terms of the final offer to be "fair and reasonable" and unanimously recommend that shareholders vote in favour of the deal. A general meeting is scheduled to take place later in the day.
At 1235 GMT, the shares were up 2.8% at 119.00p.