Cambian Group says CareTech eyes $536 million takeover offer

(Reuters) - British social care services firm Cambian Group Plc <CMBNC.L> has received a takeover proposal from rival CareTech Holdings Plc <CTH.L> that would value Cambian at 405.2 million pounds ($536.20 million).

Cambian said the preliminary proposal amounted to 220 pence per share for the company in cash or shares, a premium of 48.4 pct to Cambian's closing share price on Monday.

CareTech has also proposed an alternative full-cash offer of 200 pence per share, it said, while cautioning that the discussions were still at a preliminary stage and it was not clear if an offer would finally be made.

($1 = 0.7557 pounds)

(Reporting by Justin George Varghese in Bengaluru)