Weyerhaeuser Makes Final Offer For Willamette

Weyclhaeuscl Co. vowcd to \\'ilh- ny. and predictcd Willametle's stock draw its 1j-5.-5 billion hostile bid for price would fall should WeyerWillamette Industries if it dicln't win haeuser wilhdraw its offer. Allegedly. threc seats on the Willanrette boafd at Weverhaeuser has been pursuing a June 7 shareholde l meeting. Willarnette since Ar.rgust 1998.

In thc r.rccks hcl'trlc llrc rnceting. less than a majority ol'Willanrette's shares vu'cre tendcred into Wcyerhaeuser's offer. Yet, the May I 8 death of Willarnette's largest individual shareholde r. 87-1,e ar-old Maurie Dooly Clark. threw into jeopardy whether his heirs would retain his holdings.

Canrpaigning for shareholders' synrpathies continued to heat up at press time. with both companies trading blows in lirll-pagc rds in Tlte Wull Slrect.loLtrrtul.

Weycrhaeuscr's ad accLrscd WillLtmctte lnanagenrent o1' shirking its fiduciary responsibilities by refusing to entertain any offers firr the conrpa-

Willarnette's ad clairncd Weycrhaeuser's increasing its i1i413 a shalc hid hy a "paltri" \l pc'r' rhare was "insulting to shareholders" and that Weyerhaeuser's paicl nomittees ttr thc board would be loyal to Weyerhaeuscr not to Willamette shareholders.

Weyerhaeuser also had its reservations cirnec'led l'or nrcetinr r()()nls i-rt the P<lrtland Art Muscum. site ot'the shareholder rneeting. Originally. Willarrctte had reserved only thc main ballroont, so Weyerhacuser secretly booked the rnuseurn's other five rcloms. Willamette executives ancl syrnpathizers, though, are among the rnuseurn's largest beneflctors.

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Ganahl Buys Seventh Yard

Ganahl Lumber Co., Anaheim, Ca., has acquired Laguna Beach Lumber Co., Laguna Beach, Ca., as its seventh facility.

Jeff and Joe Jahraus, grandsons of Laguna Beach Lumber founder Joseph R. Jahraus, have retired, each after working nearly 40 for the business.

Paul Kelly, industrial sales manager in Anaheim, will serve as general manager of the new location. Other transfers from Anaheim include John Layman, now Laguna's yard manager, and outside salesperson Diane Valentino.

Much of the staff remains, including hardware manager Chuck Robinson, office manager Beverly Cratsenburg, and sales reps Mike Harness, John Walker, Brad Smith, John Bates and Neil Kelley.

So far, the biggest change has been ending Laguna Beach Lumber's decades-old policy of closing for an hour for lunch. To ease the transition,. says Peter Ganahl, "we bought everybody lunch for a week."

Bank Blamed For Timber Ties

Environmentalists recently picketed Umpqua Bank, Portland, for its association with Northwest timber firms.

The protesters asked consumers to divest all assets in the bank and write letters to Umpqua chairman Allyn Floyd, owner of Roseburg Forest Products, Dillard, Or.

Herbert Lumber Co., Riddle, Or., also was singled out. as its owners. Milton and Lynn Herbert, reportedly own207o ofthe bank's stock.