Waterford Wedgwood said today its stake in German porcelain group Rosenthal will rise to 89.8 per cent on completion of share purchases, following the close of its tender offer.
Waterford Wedgwood made a euro per share tender offer for the remaining 15.38 per cent of Rosenthal which it did not already own. It said that by August 10th it had received acceptances for its offer, totalling 5.18 per cent of the issued share capital.
The group said it has exercised its right to waive the offer condition that the offer would lapse unless sufficient shares were tendered to bring Waterford Wedgwood's shareholding above 95 per cent.