General Partners, Gencorp Agree to Pact

General Partners and Gencorp said that they have agreed to terminate all litigation between them arising from General Partners’ unsuccessful attempt to acquire Gencorp.

In mid-March, General Partners, which included AFG Industries Inc. of Irvine and Wagner & Brown of Midland, Tex., launched a $2.2-billion tender offer for the Ohio-based conglomerate. Gencorp opposed the offer and later agreed to repurchase up to 54% of its own stock to defend its independence.

During the course of the month-long takeover saga, General Partners had filed challenges to Gencorp’s defensive strategies, while Gencorp sued over the partnership’s takeover tactics.