Waterford in takeover talks with Royal Doulton

Troubled china maker Royal Doulton today revealed that it was in talks about a takeover by ISEQ-listed Waterford Wedgwood.

UK-based Doulton, which said in March that it would close its last UK factory in the face of stiff overseas competition, said it was in “advanced discussions” with Waterford regarding a possible recommended offer.

The two companies said the talks had moved to the stage where Waterford had already studied Doulton’s books, but certain matters remained to be resolved.

“Consequently there can be no certainty that a formal offer will be made,” a statement from the two firms said. “A further announcement will be made in due course.”

Waterford Wedgwood has lost 4c in morning trading on the ISEQ, down 27.9% to €0.09 a share.