	gencorp gy says buyback better than takeover gencorp inc said the decision by general partners comprised of afg industries and wagner and brown to end its hostile offer for the company supports its belief that the buy back offer it announced yesterday was a financially superior alternative gencorp said it would annouce details of its plans to buy back pct of its stock for billion dlrs or dlrs a share later this week gencorp s buy back was made to fend off the hostile billion dlr dlr a share tender offer by afg and wagner and brown earlier today afg and wagner and brown said that without the benefit of additional information available to gencorp s management it cannot compete economically with gencorp s proposal the group said it is ending its tender offer for gencorp and promptly return to tendering shareholders all shares tendered pursuant to its offer the group owns pct or shares of gencorp s outstanding shares reuter 
