- The takeover of McCarthy & Stone by US private equity firm Lone Star has received shareholder approval.

The retirement housebuilder will now be acquired for £647 million.

Following a court meeting, the US firm received backing of shareholders controlling 85.7% of the shares.

The firm said just 75.4% of individual shareholders voted at the meeting in favour of the deal, which was significantly sweetened yesterday with a £17m last-minute increase in the offer price.

At 2:01pm: [LON:MCS] Mccarthy Stone PLC share price was 0p at 117p

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