GAF &lt;GAF> SEEKS INFORMATION ON BORG-WARNER&lt;BOR>
  GAF Corp said it is exploring its
  options in response to Merrill Lynch Capital Partners' 4.23
  billion dlr offer for Borg-Warner Corp, and it has asked for
  all information that was supplied to Merrill Lynch.
      A GAF spokesman said the company asked for the information
  in order to enable GAF to fully evaluate its alternatives.
      The spokesman also confirmed that GAF did raise its bid to
  48 dlrs cash from 46 dlrs per share on Friday.
      Merrill is offering 48.50 dlrs per share cash for 89 pct of
  Borg-Warner, and a package of cash and securities for the
  balance.
      The transaction with Merrill Lynch will take Borg-Warner
  private in the form of a leveraged buyout. Merrill Lynch does
  not intend to sell Borg-Warner assets, but it may be forced to
  do so in financing the deal, said sources familiar with the
  transaction.
       Borg-Warner has said its management is not a participant
  in the transaction, but managers will retain their positions.
      The investors involved with Merrill include pension funds,
  insurance companies and other institutional investors, sources
  said.
      Analysts believe GAF, which owns 19.9 pct of Borg-Warner,
  will raise its offer.
      That speculation drove Borg-warner stock up 1-3/8 to 49-5/8
  in heavy trading. GAF closed at 49-5/8, off 3/4.
  

