GAF &lt;GAF> TO PURCHASE UP TO 21 PCT OF STOCK
  GAF Corp said its board has
  authorized the repurchase from time to time of up to seven mln
  of its common shares, or about 21 pct, for cash in open market
  purchases or private transactions.
      The company said it repurchased 2,100,000 shares under an
  April authorization to buy back up to three mln shares and
  authorization for further repurchases under the old program has
  been withdrawn.
      Yesterday, GAF said a group led by chairman Samuel J.
  Heyman has decided to reconsider its offer to acquire GAF. GAF
  said a revised offer by the group is still possible.
  

