Still, people close to G.M. stress that they could decide to simply spin off the unit.

RJR has said it does not want to spin off the unit before 1997.

But it has said it is committed to steel and ore, and that there are no plans to spin off the unit.

Northrop had similarly planned to spin off the automotive unit if it took control of the company.

Instead, it may spin off the unit to its existing shareholders.

Analysts have said spinning off the unit will let Halliburton concentrate on its oil field business.

Sears is known to be eager to spin off the unit, and has announced that it wants to have a deal completed by June.

AT&T could also spin off the unit along the lines of the plan it outlined last year.

It has equivocated about whether it may sell or spin off the unit.

G.M. is evaluating whether to sell or spin off the unit.