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WILMINGTON, DEL. — A judge in the Delaware Chancery Court rejected a request made by two Wall Street arbitrageur firms to force Rexene Corp. of Dallas to move the record date for a special shareholders meeting.

As a result, the record date remains at April 18, and the special meeting will be held April 30 in Wilmington.

Wyser-Pratte & Co. Inc. and Spear, Leeds & Kellogg, both of New York, said in a lawsuit that the April 18 record date hurt their chances of getting information to shareholders

Separately, Rexene announced its board elected two new independent directors and launched a stock repurchase program for as much as $85 million of the company's outstanding stock.

Rexene said its directors would not oppose an all-cash, fully financed offer at $16 a share from Jon Huntsman, chairman of Huntsman Corp. of Salt Lake City.