Irish luxury crystal group Waterford Wedgwood announced 15 December 2004 the terms of a recommended cash offer to be made by its subsidiary Waterford Wedgwood U.K. plc, for UK porcelain manufacturer R…
Irish luxury crystal group Waterford Wedgwood announced 15 December 2004 the terms of a recommended cash offer to be made by its subsidiary Waterford Wedgwood U.K. plc, for UK porcelain manufacturer Royal Doulton plc. Under the terms of the offer, Royal Doulton Shareholders will be offered GBP 0.12 cash per share. The offer values Royal Doulton at GBP 39.9 million (EUR 57.8 million) and represents a premium of 43% to the closing middle-market price of GBP 0.0838 per Royal Doulton Share on 20 October 2004 (the day before Waterford Wedgwood and Royal Doulton announced they were in talks regarding a potential offer for Royal Doulton). The Waterford Wedgwood Group owns, or Waterford Wedgwood U.K. has received irrevocable undertakings to accept the offer in respect of, a total of 90,803,587 Royal Doulton shares (27%).