Lone Star swoops on retirement housebuilder McCarthy & Stone Investors at the Bournemouth-based company have been offered 115p per share by … McCarthy & Stone, led by John Tonkiss, specialises in land buying, developing, selling and managing retirement communities, mostly for people in their … McCarthy & Stone shareholders approve Lone Star takeover By Sally Hickey 2020-12-08T10:25:00 McCarthy & Stone shareholders have voted to … FTSE 250 19,462.71 McCarthy & Stone is a retirement homes builder By McCarthy & Stone shareholders have voted in favour of a takeover of the retirement housebuilder by private equity firm Lone Star. The company buys and develops the land to manage and sell their developments. At McCarthy Stone we believe that retirement living involves much more than simply deciding to move into a new home that’s better suited to our customers’ needs. McCarthy & Stone investors would now get 120p cash per share, a 45% premium to the company's closing price before the approach was initially announced on 22 October and above the original 115p bid. McCarthy & Stone reported a fall in profits of more than 50 per cent over the six months to February ... At present, the company also sells the income stream from ground rent onwards to investors. 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. The Company buys land and then builds, sells and manages retirement developments. Retirement housebuilder McCarthy & Stone said on Wednesday that the coronavirus would have a "material" impact on trading in the coming months, as it scrapped its dividend. McCarthy & Stone PLC is a United Kingdom-based developer and manager of retirement communities. McCarthy & Stone faces discontent from investors over its takeover, as fund managers fear the pandemic and Brexit uncertainty could unleash a wave of cut-price private equity deals.The board of the ... Stock market news live updates: Stocks touch record highs before trading mixed as investors eye stimulus talks. McCarthy and Stone shareholders approve £650m takeover bid. As Lone Star makes a bid for McCarthy & Stone, Joanna Bourke looks at why UK retirement housing looks attractive to investors. Read full article. It’s also an opportunity for them to embrace a new way of life, to have the freedom to live a lifestyle … McCarthy & Stone PLC is a retirement house builder operating in the owner-occupied market in the United Kingdom.
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