The Lawyer Global Litigation Top 50 report is the only ranking of international law firms by litigation and arbitration revenue and is essential reading for anyone seeking to benchmark their litigation and dispute resolution practices...
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The board of McCarthy & Stone recommended the offer from Mars Bidco, the bid vehicle for Permira and Barclays Capital this morning (17 July), which offered 1,000 pence per share. The deal values the company at £1.028bn.
Slaughters is representing Bidco on the acquisition. Clifford Chance partners Mark Campbell and James Butters have won the mandate to advise Citigroup and Dresdner Kleinwort, Mars Bidco’s financial advisers.
Travers Smith is acting for longstanding client McCarthy & Stone led by partners Oliver Barnes and Neal Watson.
A second consortium consisting of Bank of Scotland Corporate, Aldergate Investments and West Coast Capital is understood to have made a rival bid for McCarthy & Stone.
Although the Mars Bidco price has been recommended by the board, the bid has been made through a scheme of arrangement and will need 75 per cent shareholder approval, which could play into the hands of the rival bidder.