Bidding war continues despite provisional acceptance of investment houses鈥� offer by the retirement home specialist

McCarthy & Stone has agreed a 拢1bn takeover bid from a group led by investment groups Permira and Barclays Capital. Under the offer shareholders would receive 拢10 per share.

However, McCarthy, the UK鈥檚 leading builder of retirement homes, confirmed there were more bids on the table.

It said it had received a rival offer of 拢10.30 a share from Simon and David Reuben鈥檚 Aldersgate Investment and West Coast Capital.

A third possible bid by Vincent Tchenguiz was also reported. The property tycoon is said to have tabled a bid of 拢1bn, but it has yet to be fully financed.

McCarthy is responsible for around 60% of retirement housing built in the UK. Its market value has risen by almost 50% following a strong six months for the housebuilding sector.

McCarthy & Stone chairman Keith Lovelock said the offer from Permira and Barclays Capital 鈥榝airly reflects鈥� the strengths of the business.