Weyerhaeuser Wants to Acquire Willamette for $7 Billion FEDERAL WAY, Wash--Weyerhaeuser Company (NYSE:WY) today confirmed that on Nov. 6 it sent a letter to Willamette Industries, Inc. (NYSE:WLL) proposing to acquire all of the outstanding common stock of Willamette for $48 per share in cash. On Nov. 10, Willamette informed Weyerhaeuser that the Willamette board had met on Nov. 9 and failed to act on Weyerhaeuser's proposal. Based on Willamette's closing share price on Friday, Nov. 10, the Weyerhaeuser proposal represents a premium of approximately 38 percent. It is also a substantial premium of approximately 60 percent to Willamette's average share price for the past 60 days. In addition, Willamette has total debt of approximately $1.7 billion, making the total value of the transaction approximately $7.0 billion. The proposal is not subject to the receipt of financing, and Weyerhaeuser has received the financing commitments necessary to complete the transaction. The transaction is anticipated to be accretive to Weyerhaeuser's cash flow, earnings per share and shareholder value in the first year after close.