Weyerhaeuser Antes Up, Wears Down Willamette, Earns A Hard-Fought Containerboard Market Battle
February 1, 2002
For nearly two years Willamette Industries, Portland, OR, fought tooth and nail to fend off what it termed "unsolicited, hostile, and unacceptably low" acquisition offers by rival Weyerhaeuser, Federal Way, WA. It now appears that Weyerhaeuser's relentless tactics, which included the courting of Willamette's shareholders, staging and winning proxy battles for seats on Willamette's board, and inching up its offer pennies at a time, will pay off.
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