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Housing Today
Trusted media brand of the Chartered Institute of Housing
Shareholders back McCarthy & Stone sale to Lone Star
Buyout of retirement housebuilder by private equity firm approved despite significant vote against
Lone Star secured approval for its £647m takeover of retirement housebuilder McCarthy & Stone in a shareholder vote late yesterday.
The US private equity firm won the backing of shareholders controlling 85.7% of the shares at a court meeting to approve the deal, just above the 75% threshold needed to take the firm private.
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