Paper War Catching Fire
A Wall Street Journal report indicated that Willamette didn't want to sit down with Weyerhaeuser in the same building. According to the Journal, Willamette booked the main ballroom at the Portland Art Museum for the annual meeting, leaving the museum's five other rooms open. Weyerhaeuser stealthily booked the remaining rooms under the name of Ed Grosswiler, a local consultant, for $6,000.
While it is commonplace for takeover targets to find the aggressors setting up shop in the same building during an annual meeting, Weyerhaeuser made a calculated mistake. Among the museum's benefactors are William Swindells and his wife, Ann, who have donated somewhere between $500,000 and $749,000. When Grosswiler revealed the name of his client to the museum two weeks after booking the rooms, the museum quickly refunded Weyerhaeuser's money.