<p>McCarthy &amp; Stone is at the centre of a billion pound bidding war, with three consortiums expressing interest in the retirement homes specialist.</p> <p>Chairman Keith Lovelock has recommended a formal bid of £1.03 billion or £10 a share from Mars Bidco, a private equity joint venture between Permira and Barclays. But a rival consortium, Broomco, comprising the Bank of Scotland, the Reuben brothers and West Coast Capital, made a proposal of £10.30 a share with the pre-condition of a break fee. In a statement to the London stock exchange, Broomco said McStone’s board was prepared to recommend its higher bid, but could not agree to a break fee in light of its existing break fee arrangements with Mars Bidco. McStone has agreed to pay Mars Bidco £9.4 million if it accepts a rival higher offer.</p> <p>A third consortium, including property tycoon Vincent Tchenguiz, has also expressed an interest, but had not come forward with a bid as Housebuilder went to press. Lovelock told Housebuilder: “We are committed to the Mars Bidco proposal. It has financing and is certain. If we are given another offer it is my duty to look into it and behave in the best interests of the …