Stoneworth, the company being used by Dr Tony O'Reilly, Mr Peter Goulandris and Mr Lewis Glucksman to take Fitzwilton private, can now compulsorily acquire the remaining shares, after getting acceptances in respect of over 80 per cent of the 266.5 million shares in issue. A statement from Stoneworth said it now owns 219.6 million shares (80.2 per cent of the total) and that its 50p a share offer is now wholly unconditional.

There had been some speculation during the offer period that Stoneworth might have difficulty in getting sufficient acceptances to compulsorily buy any outstanding shares, especially after Scottish Provident's investment manager Mr John Lawrie publicly branded the 50p offer as a "knockdown price".

However, Fitzwilton's long-suffering shareholders have decided to accept the £134 million cash rather than hold out for a higher offer, and dissenting shareholders like Scottish Provident will have to sell. Another shareholder who will have to sell is Dunnes Stores, a 9.9 per cent shareholder. It was apparently holding out in the hope of being in a position of influence if Stoneworth fell short of the 80 per cent holding needed.