GENERAL PARTNERS TO RAISE BID FOR GENCORP <GY>
<General Partners> said it was
prepared to raise its bid for GenCorp Inc to 110 dlrs cash per
share from 100 dlrs per share.
    In a letter from General Partners to A. William Reynolds,
chairman and chief executive officer of GenCorp, the company
stated that if GenCorp could prove the company was worth more,
General Partners would be willing to consider an even higher
price.
    General Partners also left open the possibility of an
alternative to an all-cash offer.
    General Partners told GenCorp if it believed shareholders
would be better served by a smaller cash price with a security
representing a continuing long-term interest in GenCorp's
prospects, it would be willing to discuss an alternative.
    Specifically, General Partners said it was prepared to
discuss an acquisition giving shareholders a continuing
interest in Aerojet General, a valued business of GenCorp.
 Reuter
