Carter-Wallace rejects Davis' $835 mil. offer; Trojan raiders?.
This article was originally published in The Rose Sheet
TROJAN WARS?: CARTER-WALLACE REJECTS FIRST $18/SHARE BID BY DAVIS to acquire the Princeton, N.J.- based consumer products and pharmaceuticals company, Carter-Wallace reported Nov. 1. The company said Oct. 30 that it received a letter from financier Marvin Davis stating that his Los Angeles-based investment firm Davis Companies is "prepared to negotiate an agreement with [Carter-Wallace] for the acquisition of all of the company's outstanding stock at a price of $18 per share." Carter-Wallace said it rejected the deal because its majority shareholder, CPI Development Corp., "has no interest" in accepting the $18/share offer.
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