Shamrock Backs Sale of Carter-Wallace

The investment company for the family of Roy E. Disney said it backs a push for Carter-Wallace Inc., the maker of Trojan condoms and Arrid antiperspirant, to sell itself. Shamrock Holdings of California Inc. said it will vote its 577,100 Carter-Wallace common shares in favor of a nonbinding resolution pressing for the company’s sale, at its shareholder meeting Tuesday. In a news release, Burbank-based Shamrock criticized Carter-Wallace for focusing on health-care products, failing to heed shareholders and raising Chairman Henry H. Hoyt Jr.’s pay while the company’s stock has performed poorly. Representatives of New York-based Carter-Wallace could not be reached for comment. The company’s shares rose 31 cents to close at $18.81 on the NYSE. The shares have gained 3.4% over the last year.