Metlifecare has changed the terms of its much debated $216 million merger deal, as shareholders prepare to vote on the proposal today.

Selwyn and David Cushing have lifted their stake in Kirkcaldie & Stains, the iconic Wellington department store owner, to 19.55 percent.

Metlifecare's $216m merger with two other retirement village operators has been approved in a report prepared by indepdendent assessors.