McCarthy & Stone faces investor dissatisfaction over its buyout as fund managers fear pandemic and Brexit uncertainty could trigger wave of cuts price of private equity transactions
The board of directors of the retirement home builder on Friday recommended a £ 630million offer to Texas buyout firm Lone Star while the 115p per share offer represents a 39% premium per share. compared to the pre-offer price, the stock changed hands at 158 pence in February The company floated at 180p five years ago
Richard Marwood, fund manager at Royal London – McCarthy’s third shareholder with a 5% stake – said Lone Star’s offer was « opportunistic at a time when there is operational uncertainty », and that « the long-term value of this activity could be greater »
Private Equity Company
World News – UK – Lone Star’s Offer for McCarthy & Stone Raises Redemption Alarm
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