SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
(Amendment No. )
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REXENE CORPORATION
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other
than the Registrant)
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REXENE
Corporation
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5005 LBJ Freeway - Suite 500 - Occidental Tower
Dallas, TX 75224 - 972-450-9000
CONTACT:
Neil Devroy
972-450-9101
REXENE AGREES TO DUE DILIGENCE WITH HUNTSMAN PENDING SIGNING OF
CONFIDENTIALITY AGREEMENT
Dallas, TX - April 25, 1997 - Rexene Corporation (NYSE:RXN) announced
today it has sent the following letter to Jon Huntsman, Chairman and CEO of
Huntsman Corporation.
(Letter follows)
April 25, 1997
Mr. Jon Huntsman
Huntsman Corporation
500 Huntsman Way
Salt Lake City, Utah 84108
Dear Mr. Huntsman:
Thank you for your letter of April 24, 1997.
The letters furnished by your potential financing sources do not, as you know,
commit them to provide any funds for an acquisition of Rexene. They all note,
among other conditions and contingencies, their need to complete a due diligence
review of Rexene and the creation of a satisfactory capital structure to effect
the transaction.
Notwithstanding the foregoing, we are prepared to move forward and provide you
with due diligence. Due diligence can proceed as soon as you sign and return the
confidentiality agreement. We look forward to receiving the confidentiality
agreement and to discussing any modifications that you believe are appropriate.
Please do not hesitate to call me or our counsel.
Very truly yours,
/s/ Andrew J. Smith
Andrew J. Smith
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