GAF <GAF> SEEKS INFORMATION ON BORG-WARNER<BOR> GAF Corp said it is exploring its options in response to Merrill Lynch Capital Partners' 4.23 billion dlr offer for Borg-Warner Corp, and it has asked for all information that was supplied to Merrill Lynch. A GAF spokesman said the company asked for the information in order to enable GAF to fully evaluate its alternatives. The spokesman also confirmed that GAF did raise its bid to 48 dlrs cash from 46 dlrs per share on Friday. Merrill is offering 48.50 dlrs per share cash for 89 pct of Borg-Warner, and a package of cash and securities for the balance. The transaction with Merrill Lynch will take Borg-Warner private in the form of a leveraged buyout. Merrill Lynch does not intend to sell Borg-Warner assets, but it may be forced to do so in financing the deal, said sources familiar with the transaction. Borg-Warner has said its management is not a participant in the transaction, but managers will retain their positions. The investors involved with Merrill include pension funds, insurance companies and other institutional investors, sources said. Analysts believe GAF, which owns 19.9 pct of Borg-Warner, will raise its offer. That speculation drove Borg-warner stock up 1-3/8 to 49-5/8 in heavy trading. GAF closed at 49-5/8, off 3/4.