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In Brief: Carter-Wallace

This article was originally published in The Rose Sheet

Executive Summary

Carter-Wallace: Denies rumors of an impending acquisition offer, maintaining that "it does not know of any basis for the rumored offer," in a statement released May 19. The Arrid antiperspirant and Trojan condom manufacturer had been experiencing unusually heavy trading volume and on May 16 the issue closed at 18-1/8, a high for the past 52 weeks. The issue closed at 16, down 2-1/8 May 19, the day Carter-Wallace's statement was released. A story in the May 26 issue of Business Week reported a British packaged goods, foods and detergents company was planning to make a $24 per share bid for Carter-Wallace. At the end of 1996, Carter-Wallace rejected an initial offer by Davis Companies to purchase the firm for $18 per share as well as a second offer of $20 per share...
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