SECURITIES AND EXCHANGE COMMISSION
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REXENE CORPORATION
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(Name of Registrant as Specified In Its Charter)
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REXENE
Corporation
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5005 LBJ Freeway * Suite 500 * Occidental Tower *
Dallas, TX 75244 * 972-450-9000
CONTACT: Neil Devroy
(972) 450-9101
DALLAS, TX - May 19, 1997 -- Rexene Corporation (NYSE: RXN) said
today that it is in discussions with Huntsman Corporation regarding the
acquisition of the Company by Huntsman for $16 per share. Rexene said that there
can be no guarantee that a definitive agreement with Huntsman will be reached or
that a sale of the Company will be consummated.
Rexene also said that as a result of these developments, it will
adjourn the Special Meeting of Stockholders scheduled to be held on May 22, 1997
to June 12, 1997.
Rexene Corporation, through its Rexene Products and CT Film
divisions, manufactures thermoplastic resins and plastic film. Headquartered in
Dallas, Texas, the Company has manufacturing facilities in Texas, Wisconsin,
Georgia, Delaware, Utah and in England.
