Shares in Willamette fall on news of acquisition talks
Willamette Industries, which has rejected a $5.5 billion hostile bid from Weyerhaeuser Co, has said it is trying to buy Georgia Pacific Corp’s building products unit, which has 68% more revenues than Willamette had last year. Shares in Willamette have fallen on news of the acquisition, with fears that it would reduce the chance of the Weyerhaeuser deal going ahead. Analysts believe it could be a way for Willamette to ward off Weyerhaeuser’s unwelcome bid.
12-Dec-2001
