But McCarthy & Stone directors “consider the terms of the final offer to be fair and reasonable”, the takeover target said today.
Directors at the retirement housebuilder have recommended shareholders vote in favour of the deal. The meeting starts at 4.15 pm today.
When the planned swoop was first announced in October, Donald Quintin, president of Lone Star Europe, said McCarthy is in a “market underpinned by clear fundamentals: a rapidly ageing population and a structural undersupply of suitable housing options for older people”.
Rothschild, Deutsche and Peel Hunt are working with McCarthy and Moelis & Company and Goldman Sachs are advising the suitor.
