Catching Fire

FEDERAL WAY, WA—The high-octane, acrimonious hostile takeover attempt of paper giant Willamette by fellow industry heavy Weyerhaeuser appears far from over. The battle lines were drawn June 7, when Willamette shareholders appeared to have voted in the Weyerhaeuser slate of three to its board of directors; official results weren't expected for a few weeks, as of press time. With their slate in place, Weyerhaeuser vows to nominate another slate of directors for election at the 2002 annual meeting should Portland, OR-based Willamette refuse to negotiate, as has been Weyerhaeuser's contention. Willamette counters that the current offer on the table of $50 per share is not