Waterford, Wedgwood Merge

Two of the biggest names in European craftsmanship--Waterford Glass and Wedgwood china--today announced an agreed merger, with Waterford paying $363 million for Wedgwood.

The Irish glass company, known for its fine cut-glass products, made the agreement with Wedgwood after the china maker had resisted a previous $217-million merger offer from London International PLC. The merged companies will be called Waterford Wedgwood Holdings PLC (public limited company), but their noted table settings and glassware will still be sold under their own famous names.