Paper War Catching Fire
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In response, Willamette's Duane C. McDougall, CEO, and William Swindells, chairman, raised the following points: "We believe Weyerhaeuser's current offer would be at least 30 percent accretive to Weyerhaeuser's cash earnings on a conservative basis—value that, in our view, rightfully belongs to Willamette shareholders; while stock prices for the relevant Industry Composite of comparable companies are up 29 percent and Weyerhaeuser is up 34 percent since November, all you have shown our shareholders is a 4 percent increase to an offer which we made abundantly clear we believed was not even 'in the ballpark' ... we believe Willamette could be trading above $50 today in the absence of your hostile offer."
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- People:
- Catching Fire
- Places:
- Portland, OR
- Willamette
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