McCarthy & Stone

On 17 July 2006, the boards of directors of Mars BidCo (a consortium formed at the direction of funds advised by Permira Advisors LLP and Barclays Capital PIA) and McCarthy & Stone announced that they had reached agreement on the terms of recommended Proposals for Mars BidCo to acquire the entire issued and to be issued share capital of McCarthy & Stone. Under the Proposals, each Shareholder would have received 1,000 pence in cash for each Share held.

On 1 August 2006, Mother Bidco (Mother Bidco is indirectly owned by Bank of Scotland, Aldersgate and West Coast) announced a cash offer at 1075 pence per share for the entire issued and to be issued share capital of McCarthy & Stone (that it did not already own) which was subsequently recommended by the board of McCarthy & Stone. On 13 October 2006, Mother Bidco announced that the Offer had been declared unconditional in all respects.

Canaccord Genuity was approached to become Rule 3 advisor to the Board of McCarthy & Stone when it was established that its incumbent advisor had a potential conflict of interest.