Waterford Wedgewood takes control of UK rival

Waterford Wedgwood has taken full control of rival chinamaker Royal Doulton.

Waterford Wedgwood has taken full control of rival chinamaker Royal Doulton.

In a statement today it said its offer for Royal Doulton is now "wholly unconditional".

The offer will remain open for acceptances by remaining shareholders until further notice, it said.

The company said it had received acceptances for its €58 million offer from shareholders representing 69 per cent of Royal Doulton's share capital.

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Waterford Wedgwood, which already owns 21 per cent of its British rival, has already reached agreement with the Royal Doulton board for its bid.

The acquisition will be funded through a €100 million five-for-three rights issue of Waterford Wedgwood shares at six cents per share.