FABERGE TAKEOVER BUST-UP

Faberge began in 1882 when Peter Carl Faberge took over his father Gustav’s jewellery business

The firm became known for bejewelled eggs that it made for the Russian royal family between 1885 and 1916

Most were destroyed by the Bolsheviks after the Russian revolution but the Queen currently owns three

In 2007 the Rothschild Faberge Egg (pictured) was auctioned for £9m – a record price THE row over the future of Faberge owner Gemfields reached boiling point yesterday after its largest shareholder claimed it had secured enough votes to force through a takeover.

South Africa-listed Pallinghurst has been at loggerheads with Gemfields and yesterday said it had received the backing of 61.3pc of shareholders to secure an unconditional deal.

The announcement came just hours after Gemfields’ management recommended a £256m bid from Chinese conglomerate Fosun, but a source close to Pallinghurst said its £211.5m offer was all but finalised.

Shares in Gemfields slipped 4.7pc, or 2p, to 40.12p, following the news. The row between the two firms will reach a climax on Monday when shareholders vote on the deal, which requires 50pc shareholder approval.