	gabelli explains sale of gencorp gy shares mario gabelli head of new york investment firm mario gabelli and co said he sold some shares of gencorp inc gy as part of a portfolio rebalancing process to meet the needs of his more than clients he said as the stock moved up following uisition proposals from a group formed by afg industries inc afg and wagner and brown some of his clients were overweighted regarding the company s shareholders meeting tuesday gabelli told reuters there was nothing said that caused me to sell or buy he still thinks values are dlrs per share or more and has clients that asked to buy more gabelli said he amended certain filings with the securities and exchange commission because his clients are now passive investors we wanted to remove our clients from the process unfolding between gencorp and wagner and brown he said he said he was pleased that chairman a william reynolds stated at the meeting that he found the concept of greenmail to be repugnant greenmail refers to a corporation buying out a shareholder at a premium not available to others reuter 
