Barlo effectively became part of Mr Seán Quinn's empire last night after shareholders with almost 90 per cent of the radiator and plastics group accepted his €84 million bid for the company.

Quinn Group subsidiary Sarcon, which made the offer, announced after close of business that it had acceptances representing 154.5 million shares, or 88.2 per cent of Barlo's issued share capital.

Yesterday was the first deadline for accepting the Sarcon offer.

As it is well over 80 per cent, the level of acceptances means that the Quinn offer is now unconditional under Irish company law.

Sarcon said last night that it would extend the offer to at least 3 p.m. on Friday, May 7th, to allow shareholders with the remaining 11.8 per cent to return their acceptances.

Quinn Group and Sarcon chairman Mr Seán Quinn said yesterday in a statement that he was "delighted with the level of acceptances that we have received".

A spokesman told The Irish Times that the group was looking forward to working with existing management to develop Barlo's business.

Barlo chief executive Dr Tony Mullins, who led an abortive management buyout bid that valued the company at €70 million, made no comment last night.

There was no indication if he planned staying on to manage the company.

After it takes over Barlo, Quinn will apply to the stock exchange to de-list the company. The spokesman said this would be a formality.

Yesterday brought to an end a saga that has been running since last July, when Barlo and Dr Mullins announced that the latter intended making a formal offer for the company.

He eventually offered 40 cents a share, or €70 million, in February.

Sarcon trumped that last month with its 48 cents-a-share, €84 million bid for the radiator and plastics group.