Lone Star swoop in on struggling McCarthy & Stone

Lone Star swoop in on struggling McCarthy & Stone

US private equity firm, Lone Star Real Estate Fund VI have agreed to acquire McCarthy & Stone plc at 115 pence per share, valuing the retirement home builder at £630 million.

The offer represents a 38.6% premium to McCarthy & Stone’s closing price as of 22 October 2020 (being the last date before the announcement). However, this remains below pre-pandemic levels, with shares trading at 158 pence in mid-February.

The retirement home builder has taken significant hits due to the pandemic, which caused its shares to drop as low as 40 pence per share in March, following a post-election bounce in January and February. In its

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