GENCORP &lt;GY> TO STUDY GENERAL PARTNER BID

  GenCorp Inc chairman William
  Reynolds said the company's board and its financial and legal
  advisors will study the unsolicited tender offer from &lt;General
  Partners>.
      "Right now, our advice to all our shareholders is to wait
  until the board advises them of its position ... which will
  happen on or before March 31," Reynolds said.
      Earlier today, General Partners, controlled by Wagner and
  Brown and AFG Industries Inc, said it started a tender offer
  for all of Gencorp's shares and stock purchase rights for 100
  dlrs a share.
      General Partners said the offer, which is due to expire
  April 14, is conditioned on receipt of sufficient financing and
  other conditions.
      "We are asking our shareholders to postpone any decision on
  whether to accept or reject the offer until the board finishes
  its evaluation," Reynolds said in a statement.
      "The Wagner and Brown-AFG offer does not expire until April
  14, so shareholders have time to make their decision," he said.
  

