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Article: Punters push McCarthy & Stone to new heights.
- Article from:
- Daily Mail (London)
- Article date:
- June 14, 2003
- Author:
CopyrightCOPYRIGHT 2003 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: GEOFF FOSTER
PROBABLY at the behest of the London Stock Exchange, Bournemouth based retirement homes specialist McCarthy & Stone was forced to announce a bid approach just before dealers could switch off their trading screens for the weekend.
Persistent speculative buying lifted the shares 42p to a record 4951/2p, valuing the group at [pounds sterling]515m. Punters had piled in on hearing a rumour that an agreed cash offer of about 530p could be tabled as early as next week.
Analysts have long said that McCarthy would eventually feature in sector consolidation. It could easily operate as a standalone entity under the umbrella of a ...