- Retirement home group McCarthy & Stone said it had agreed to be acquired by a fund managed by private equity group Lone Star for around £630 million.

McCarthy & Stone investors had been offered 115p cash per share by Lone Star Real Estate Fund VI, representing a 39% premium to their closing price on Thursday.

McCarthy & Stone chairman Paul Lester said the offer represented 'a compelling and attractive opportunity' for shareholders to crystallise their investment in the company in the near term.

The offer, he added, also provided a 'meaningful premium' to the prevailing share price 'notwithstanding the backdrop of the wider risks posed by the political and macro-economic environment'.

Lone Star said the deal would give it exposure to retirement living market underpinned by the fundamentals of rapidly ageing population and a structural undersupply of suitable housing options for older people.

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