REXHAM &lt;RXH> GETS TAKEOVER OFFER

  Rexham Corp, a maker of
  packaging materials and machinery, said it received an
  unsolicited offer of 43 dlrs a share from Nortek Inc &lt;NTK>.
      Nortek, a Providence, R.I., textile manufacturer, has
  disclosed it holds 381,050 Rexham shares, or about 9.1 pct of
  the outstanding, the company said.
      Rexham said it does not welcome the proposal but added its
  board will study the offer and respond in due course.
      Nortek has proposed paying half cash and half Nortek
  convertible preferred stock for Rexham, which has about 4.2 mln
  shares outstanding.
      The cash portion would include the amount previously paid
  for the Rexham stake and the terms of the convertible preferred
  stock would be negotiated, the company said.
      Rexham said it received the takeover offer in a letter from
  Nortek.
  

