Unilever in $813m takeoverchase

Saturday 17 May 1997 23:02 BST

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Speculation is mounting on Wall Street that Unilever is poised to buy New York-based Carter-Wallace, a toiletries company which manufactures Arrid deodorant, for $813m (pounds 495m).

Shares in Carter-Wallace rose 28 per cent on Friday after an article in Business Week magazine described the purchaser as a cash-rich British manufacturer of tea, cosmetics, soap and ice-cream.

Unilever, Carter-Wallace and CPI Development, Carter-Wallace's major shareholder, all declined to comment.

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Unilever in $813m takeoverchase

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