The vote on the deal, which took place yesterday, saw almost 80% of votes cast in favour of the takeover after Lone Star increased its offer for the company. 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 owners of McCarthy and Stone have voted for a plan which would see the company taken over by a … Though these cookies cannot be switched off, you can set your browser to block or alert you about them, but please be aware that this will stop some parts of the website from functioning as intended. Lone Star in £630m takeover of McCarthy & Stone. 23 Oct The board of McCarthy & Stone is recommending that shareholders accept a £630m takeover bid from a private equity investment firm. Morrisons has partnered with McCarthy Stone, the UK’s leading developer and manager of retirement communities, to extend its doorstep food delivery service to its homeowners. In order to be approved, the takeover needs to be backed by 75% of shareholders. Lone Star and McCarthy & Stone PLC (LSE: MCS, MCS.L) 630m (GBP) acquisition information including expected completion date, offer price and contact details are displayed in the acquisition details table below. OK. Making the offer, Lone Star said it believed the acquisition of McCarthy & Stone represented “an attractive opportunity for Lone Star to gain exposure to the retirement living sector”, and that it recognised the work undertaken to turn the business around. The retirement housebuilder will now be acquired for £647 million. The company was refinanced in August 2013 under new ownership and was re-listed on the London Stock Exchange in November 2015. Following a successful trial, McCarthy Stone’s 441 communities can now order their groceries from Morrisons over the phone using a dedicated telesales line. In October, a cash offer of 115 pence per share from Lone Star Europe was agreed by the boards of the two parties which valued McCarthy & Stone at £630m. McCarthy & Stone shareholders have voted in favour of a takeover of the retirement housebuilder by private equity firm Lone Star. US private equity group Lone Star has launched a £630 million takeover bid for McCarthy & Stone with the retirement homes specialist's board recommending that shareholders accept the offer. Following a court meeting, the US firm received backing of shareholders controlling 85.7% of the shares. So you can guess what their response will be to you trying to reduce their income. McCarthy & Stone announced it was recommending a proposed £630m takeover by Lone Star on October 23, and today published a “scheme document” setting out the legal process to get the deal ratified.. Read our policy here. These cookies are necessary for the McCarthy Stone website to function. McCarthy & Stone is the biggest builder of retirement flats in Britain, with 1,200 developments across the country, and sales of about £700m … McCarthy & Stone PLC (), the sheltered housing specialist, has agreed to a takeover from US private equity group Lone Star.. Shares in McCarthy & Stone rocketed 40% on the news, indicating a positive response from shareholders, who will have to approve the deal. As with all websites, we use cookies. In addition to any such Takeover Offer, Lone Star, certain affiliated companies and the nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, shares in McCarthy & Stone outside such Takeover Offer before or during the period in which such Takeover Offer would remain open for acceptance. News of a £630m takeover bid sent retirement home developer McCarthy & Stone’s stock surging today, settling within tenths of a pence of its suitor’s offer price. McCarthy Stone sets the difference at a figure which it considers fairly reflects the size difference in apartments. In addition to any such takeover offer, Lone Star Real Estate, certain affiliated companies and the nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, shares in McCarthy & Stone outside such takeover offer before or during the period in which such takeover offer would remain open for acceptance. McCarthy & Stone Resales - Steve Grist & Carol in Falmouth We have been involved in moving my mum down to Falmouth Cornwall after the death of her partner and I contacted McCarthy & Stone Resales to view a flat in Trelawney House, the most recent McCarthy & Stone venture in the town. McCarthy & Stone shareholders have voted to approve a takeover by US private equity firm Loan Star. Welcome to propertyweek.com. (Sharecast News) - McCarthy & Stone has agreed to be bought by US private equity group Lone Star in a deal that values the retirement housebuilder at £630m. US investment firm Lone Star is … StockMarketWire.com - The takeover of McCarthy & Stone by US private equity firm Lone Star has received shareholder approval. McCarthy Stone sets the difference at a figure which it considers fairly reflects the size difference in apartments. Retirement home developer McCarthy & Stone fell to a loss over the six months to the end of April, and said the financial impact of the Covid-19 crisis is likely to be felt even more acutely during the second half of the year. An invaluable buyout factsheet for traders and investors looking to … Private equity giant Lone Star has agreed a £630m deal to buy retirement home group McCarthy & Stone. It will be Peveral/FirstPort. Terms have been agreed on a recommended takeover offer for McCarthy & Stone which values the retirement community developer at £630m. McCarthy and Stone shareholders approve £650m takeover bid. Source: Bloomberg. 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. McCarthy & Stone Plc to 647 million pounds ($860 million) ... Takeover bids worth less than market price after target shares rally. Private equity group Lone Star has offered 115p per share to buy McCarthy & Stone, a deal the target’s board has recommended to shareholders. walshy21, it won't be any concern of Mccarthy and Stone, as they 'wash' their hands once built. Examples of this include setting your privacy preferences or filling in forms. When things were normal they sent out demands for ground rent, not reminders but 'demands'. McCarthy & Stone floated in 2015 and is positioned to capitalise on the lack of supply of retirement housing for the UK's ageing population. During this period it delivered 2,300 completions. McCarthy & Stone was de-listed from the London Stock Exchange in December 2006 following a successful takeover bid of over £1 billion from a consortium including David and Simon Reuben and Sir Tom Hunter. Shareholders in McCarthy & Stone have voted in favour of a sweetened takeover offer that values the retirement housebuilder at around £647 million. Prior to the pandemic, McCarthy & Stone reported 14-month revenue in 2019 at £725m, with profit down a quarter to £43m. • McCarthy & Stone's main debtors consider takeover • Smaller lenders stand to lose £200m from move David Teather , Elena Moya and Jill Treanor Thu 19 Feb 2009 19.01 EST An increased takeover offer has been recommended to the shareholders of retirement community developer McCarthy & Stone. The takeover of McCarthy & Stone by US private equity firm Lone Star has received shareholder approval. By David Parsley 2020-10-23T07:15:00. McCarthy & Stone shareholders have voted in favour of a higher takeover offer from the private equity firm Lone Star. The retirement housebuilder will now be … McCarthy & Stone, the retirement home developer, yesterday said it had spurned a takeover bid from John McCarthy, its chairman and co-founder. They approved the 120p per share deal, which values the retirement homes specialist at just under £650million, and is about £17million larger than the … US private equity firm Lone Star sweetened its deal with an extra 5p per share on Monday. (Alliance News) - McCarthy & Stone PLC on Tuesday said its shareholders had approved a GBP647 million cash takeover bid from Mastiff Bidco Ltd, … We'll assume we have your consent to use cookies for future visits once agreed. The company posted revenues of £101.1m, down by … Discount based on Friday close. Giant Lone Star has received shareholder approval wo n't be any concern of &. 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