Willamette Shows Some Interest

Weyerhaeuser's reluctance to bid against itself prior to a face-to-face meeting—despite the fact it is offering to pay more—represents a complementary gridlock to Willamette's refusal to sit down until it has an offer in the high $50s. The stall-ball tactics appear to be harming both sides.

Paul Latta, an analyst with McAdams Wright Ragen in Seattle, told the Seattle Post-Intelligencer that he was surprised at the "harshly worded letter" from Rogel, considering "what seems like a reasonably narrow price gap."