UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
(RULE 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE
ACT OF 1934
Filed by the Registrant [ ]
Filed by a Party other than the Registrant [X]
Check the appropriate box:
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[ ] Preliminary Proxy Statement
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[ ] Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
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[ ] Definitive Proxy Statement
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[X] Definitive Additional Materials
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[ ] Soliciting Material Pursuant to Section 240.14a-12
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GENCORP INC.
(Name of Registrant as Specified In Its Charter)
PIRATE CAPITAL LLC
JOLLY ROGER FUND LP
JOLLY ROGER OFFSHORE FUND LTD
JOLLY ROGER ACTIVIST PORTFOLIO COMPANY LTD
MINT MASTER FUND LTD.
THOMAS R. HUDSON JR.
DAVID A. LORBER
TODD R. SNYDER
ROBERT C. WOODS
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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PRESS RELEASE
MARCH 29, 2006 FOR IMMEDIATE RELEASE
GENCORP (NYSE: GY) AGREES IN OHIO COURT
TO ABANDON ITS THREAT TO INTERFERE
WITH PIRATE CAPITAL VOTING OF SHARES AND PROXIES
PIRATE CAPITAL ACCOMPLISHES ITS GOAL OF PROTECTING THE SHAREHOLDER VOTE
NORWALK, CONNECTICUT, MARCH 29, 2006 - PR Newswire - Pirate Capital LLC
announced that GenCorp Inc. agreed in Ohio court yesterday to abandon its threat
to interfere with Pirate Capital's voting of shares and proxies at the 2006
annual meeting of GenCorp shareholders. GenCorp had previously threatened Pirate
Capital in written correspondence on February 14, 2006 that it would attempt to
apply the Ohio Control Share Acquisition Act to Pirate's acquisition and voting
of GenCorp shares in connection with the meeting. Yesterday, GenCorp stipulated
in court that the Act does not apply to the solicitation, acquisition or voting
of shares by Pirate Capital in connection with the meeting and that GenCorp
would not attempt to invoke the Act in connection with the conduct of the
meeting or the counting of votes at the meeting. As a result of GenCorp's
stipulation, Pirate Capital agreed to voluntarily dismiss its lawsuit, without
prejudice. In connection with Pirate Capital's voluntary dismissal of the
lawsuit, the motion for preliminary injunction was denied. This successfully
resolves the litigation that Pirate Capital filed last month in the Court of
Common Pleas, Cuyahoga County, Ohio, seeking declaratory and injunctive relief
to prevent GenCorp from carrying out its threat to invoke the Act in an effort
to defeat Pirate Capital's proxy solicitation.
Thomas R. Hudson Jr., Managing Member of Pirate Capital, said, "We view
GenCorp's capitulation as a victory not just for Pirate Capital, but for all
GenCorp shareholders. On behalf of all GenCorp shareholders, we have
accomplished our goal of preventing GenCorp from attempting to invoke
inapplicable provisions of Ohio law in an effort to silence its shareholders and
thwart a legitimate shareholder vote. In my view, this resolution helps ensure
that the voice of the shareholders, who are the true owners of the company, will
be heard at the 2006 annual meeting."
CONTACT:
Pirate Capital LLC D.F. King & Co., Inc.
David A. Lorber Richard H. Grubaugh
Phone: (203) 854-1100 Phone: (212) 493-6950
PIRATE CAPITAL LLC, JOLLY ROGER FUND LP, JOLLY ROGER OFFSHORE FUND LTD, JOLLY
ROGER ACTIVIST PORTFOLIO COMPANY LTD, MINT MASTER FUND LTD AND THOMAS R. HUDSON
JR., TOGETHER WITH THEIR NOMINEES DAVID A. LORBER, TODD R. SNYDER AND ROBERT C.
WOODS (THE "PIRATE CAPITAL GROUP"), FILED A DEFINITIVE PROXY STATEMENT WITH THE
SECURITIES AND EXCHANGE COMMISSION ON MARCH 16, 2006 RELATING TO THEIR
SOLICITATION OF PROXIES FROM THE SHAREHOLDERS OF GENCORP INC. WITH RESPECT TO
THE 2006 ANNUAL MEETING OF SHAREHOLDERS. INFORMATION REGARDING THE PIRATE
CAPITAL GROUP AS PARTICIPANTS IN THE SOLICITATION IS CONTAINED IN THE PROXY
STATEMENT. THE PROXY STATEMENT MAY BE OBTAINED WITHOUT CHARGE FROM THE SEC'S
WEBSITE AT AND HAS BEEN DISTRIBUTED TO SHAREHOLDERS ON OR ABOUT MARCH 16, 2006.
SHAREHOLDERS ARE ADVISED TO READ THE PROXY STATEMENT IN FULL BECAUSE IT CONTAINS
IMPORTANT INFORMATION ABOUT THE SOLICITATION BY THE PIRATE CAPITAL GROUP.
REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PIRATE CAPITAL GROUP'S PROXY
SOLICITOR, D.F. KING & CO., INC. AT (888) 887-0082.