	gaf gaf plans no changes if offer accepted gaf corp chairman samuel heyman told reuters he did not foresee major changes in borg warner bor if gaf s dlr per share offer to uire borg warner is successful we have great respect for borg warner mangagement heyman said following a speech at the american institute of chemical engineers annual meeting we don t have any particular changes in mind earlier today gaf announced that a billion dlr offer was presented to the board of directors of the chicago based company last week gaf had purchased additional shares of the company for dlrs increasing its stake in borg warner to pct in gaf made an unsuccessful effort to uire union carbide corp for five billion dlrs and has since expressed an interest in uiring a chemical company that would complement its own chemical business when asked whether gaf would consider selling the non chemical assets of borg warner if its takeover offer is accepted heyman declined to comment he also refused to say whether gaf would consider increasing its the dollar value of its takeover offer if the initial proposal is rejected heyman emphasized that he considered the gaf offer to borg warner to be a friendly one we think we made a fair offer that is good for borg warner management and good for its shareholders heyman said in his speech heyman said he feared too many chemical companies were attempting to specialize in the same high margin niche products he said they were turning their backs on core commodity chemical businesses heyman said the chemical industry has taken a total of seven billion dlrs in pre tax writeoffs during the past two years to trim balance sheets he predicted that the u s chemical industry which reported a total of billion dlrs in profits would see a pct gain in earnings this year because of increasing exports cheaper feedstock costs and the weakened u s dlr reuter 
