Paper War Rages On

On May 21, Weyerhaeuser said it might up the ante to bring Willamette to the negotiating table.

"If Willamette is prepared to negotiate a definitive merger agreement promptly, Weyerhaeuser is willing to increase its offer to above $50 a share," Rogel said in a statement.

Weyerhaeuser gained momentum when two of the leading proxy advisor firms, Proxy Monitor and Institutional Shareholder Services, recommended that Willamette shareholders vote for the Weyerhaeuser nominees.