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In Brief: Carter-Wallace

This article was originally published in The Tan Sheet

Executive Summary

Carter-Wallace: CPI Development Corp., the absolute majority owner of company common stock, reports Dec. 3 that it "has no interest" in selling its shares as proposed by financier Marvin Davis on Nov. 15 in his latest offer for the company of $20 a share, or $928 mil. ("The Tan Sheet" Nov. 25, In Brief). Carter-Wallace, "in light of the position taken by its majority shareholder, has determined it will not take any further action with respect to the proposal from Davis Companies." Davis originally proposed to acquire C-W for $835 mil. or $18 per share ("The Tan Sheet" Nov. 4, p. 8)...

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