McDougall questioned why Weyerhaeuser won't talk to similar companies that might welcome a Weyerhaeuser proposal. They are different sizes and they serve different markets. When we decided to take a step toward the tender offer, we committed to following through. According to Connelly, domestic growth is a priority for Weyerhaeuser right now, and Willamette is not an end game. Rogel has far greater aspirations for Weyerhaeuser and expects to remain an aggressive acquirer, Connelly said.
Actions speak louder than words, and their actions are inconsistent.
In late January, Credit Suisse First Boston recommended traditional investors sell Willamette stock to lock in deal-inflated prices. Most people think negotiating is a good move now, before Willamette has its back against the wall, he said. This has been a long time coming. In the meantime, Chercover said that in war, you can always expect propaganda from both sides, though it doesn't always serve the shareholders' best interests. In recent weeks, strongly worded letters have been exchanged between the boards of both companies.