UK - McCarthy & Stone to recommend Permira's offer

However, it is thought that the future of Britain's largest retirement housing builder is a long way from being decided as Simon and David Reuben are expected to team up with HBOS and West Coast Capital to put in a rival bid. The late-comers are thought to be putting in a bid for £10.30 a share compared to the Permira/BarCap offer of about £10 a share. Vincent Tchenguiz, the property investor, had to pull out of bidding on Friday after failing to secure debt financing. According to the Financial Times though, he has not ruled out making another offer.

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• Buyouts
• UK / Ireland