Dow Wedgwood GmbH, a wholly owned German subsidiary of Ireland“s Waterford Wedgwood Plc, has bid Euro 100 a share for the outstanding shares of German tableware and ceramics company Rosenthal AG, Ros…
Dow Wedgwood GmbH, a wholly owned German subsidiary of Ireland“s Waterford Wedgwood Plc, has bid Euro 100 a share for the outstanding shares of German tableware and ceramics company Rosenthal AG, Rosenthal said on 5 June. Waterford already holds 84.62% of Rosenthal and wants to increase its stake to at least 95%, a Rosenthal spokeswoman said. In the offer, Waterford is looking to buy 147,648 shares, putting the transaction“s price tag at Euro 14.76 million. Rosenthal shares closed around Euro 71 on 4 June, the spokeswoman said. “The board of Rosenthal welcomes and supports Waterford Wedgwood GmbH“s proposal and recommends accepting this voluntary public offer, (which is) in the best interest for the future development of the company,” Rosenthal said in a statement. Rosenthal described the Euro 100 price as “fair.” The offer is open from 12 June to 10 August.