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GAF Sweetens Carbide Offer

January 02, 1986|Associated Press

NEW YORK — GAF Corp. today sweetened its takeover offer again for Union Carbide Corp. to $78 a share in cash, or $5.5 billion.

GAF, which already owns more than 10% of Union Carbide's stock, last week had raised its offer to $74 a share from $68 a share for the remainder of the giant chemical company's about 70.5 million shares outstanding. Walter Goetz, a spokesman for Union Carbide, said he had no immediate comment on the sweetened offer.

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