Doulton agrees takeover deal

WATERFORD WEDGWOOD yesterday struck a takeover deal with the board of Royal Doulton that values the British chinaware manufacturer at €58 million.

The crystal and ceramics company said yesterday that the 12p per share takeover would give Royal Doulton shareholders 43% more than their stake was worth in October, when the deal was first outlined.

The agreement came a day after Waterford shareholders gave the go-ahead to the €100m rights issue necessary to fund the takeover. They will be offered the right to buy five shares for every three they own, at a discounted price of 6c per share. Waterford shares fell 0.6c, or 7%, to 8c yesterday.