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Article: Bid battle looms for McCarthy & Stone

Article from:
The Scotsman
Article date:
July 18, 2006
Author:
Copyright

A BID battle surrounding McCarthy & Stone looms as Britain's biggest builder of retirement homes yesterday said it was backing a GBP 1 billion takeover of the company by a group led by Permira and Barclays Capital.

Mars Bidco is offering GBP 10 a share. However, a rival bid vehicle, Broomco, led by Bank of Scotland and involving West Coast Capital, the private equity business headed by Scottish retail tycoon Sir Tom Hunter, said it might top the only existing offer on the table with a bid of 1,030p a share.

Complicating things further, multimillionaire property developer Vincent Tchenguiz is understood to have made his own indicative GBP 1

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