DLA Piper lands lead role on £1.1bn McCarthy & Stone bidding war
By Charlotte Edmond
August 02, 2006 at 08:03 PM
1 minute read
DLA Piper Rudnick Gray Cary has landed a role advising a Bank of Scotland-led consortium on its £1.1bn bid for retirement home developer McCarthy & Stone.
DLA Piper Manchester corporate partners Paul Rimmer and Jonathan Watkins are leading the team advising the consortium, known as Mother Bidco, which also includes entrepreneurs the Reuben brothers and Tom Hunter.
The offer trumps a bid put forward last week by Mars Bidco – a group comprising Barclays Capital and private equity firm Permira – which valued McCarthy & Stone at £1.028bn.
Ashurst is advising financial advisers to Mother Bidco, Rothschild, with head of corporate Adrian Clark and corporate partner Eavan Saunders leading the team.
Travers Smith is acting for regular client McCarthy & Stone with corporate partners Oliver Barnes and Neal Watson advising.
Slaughter and May corporate partner Robert Stern is advising Mars BidCo together with fellow corporate partners Hywel Davies and Simon Hall.
McCarthy also attracted bids from property tycoon Vincent Tchenguiz backed by Deutsche Bank.
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