Paper War Rages On

"One has to wonder whether the Willamette board would accept ANY offer from Weyerhaeuser, or any other suitor for that matter," Proxy Monitor said in its May 24 report.

The companies exchanged letters to their respective boards. Weyerhaeuser wrote, "Despite the fact that the Willamette board appears to believe that Willamette is worth more than its shares have ever achieved in the market, they have never disclosed at what price, if any, they would consider a sale transaction."