Metlifecare offer goes unconditional

Macquarie Bank and FKP Property Group yesterday declared their $340 million takeover offer for Metlifecare unconditional after the retirement home operator's two largest shareholders, Cliff Cook and Todd Capital, accepted the $3.90 a share offer.

Metlifecare independent directors yesterday told investors not to sell until an independent assessment was made of the offer.

Metlifecare's other major shareholder - Fisher Funds - is staying mum until it sees this report, but may elect to hold out for a higher price.