GAF Sweetens Carbide Offer

GAF Corp. made its $4.12-billion bid to buy Union Carbide Corp. more attractive to the chemical giant’s shareholders by offering cash for all outstanding shares.

The $68-a-share offer ignores the need for Union Carbide board approval and sweetens GAF’s earlier proposal of cash for only 70% of the stock and preferred stock for the rest. The original offer included an all-cash option only if the companies could reach a “satisfactory, definitive merger agreement.”