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Lone Star’s Rare M&A Concession Earns Hedge Funds Quick Money

  • Buyout firm makes last-minute bump to McCarthy & Stone bid
  • Segantii, Samson Rock, Berry Street recently built up stakes

Hedge funds including Segantii Capital Management are set to make some fast returns after Lone Star made a rare concession in a contentious U.K. takeover tussle.

Lone Star boosted its bid for retirement home developer McCarthy & Stone Plc on Monday to 647 million pounds ($862 million) following investor opposition. The last-minute sweetener of 5 pence a share translates into an extra 27 million pounds for shareholders, which helped ensure they approved the deal later in the day.