SCHEDULE 14A
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A)
OF THE SECURITIES EXCHANGE ACT OF 1934
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WILLAMETTE INDUSTRIES, INC.
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(Name of Registrant as Specified in its Charter)
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WEYERHAEUSER COMPANY
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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[Weyerhaeuser Company logo]
April 2, 2001
Willamette Industries, Inc.
1300 SW Fifth Ave, Suite 3800
Portland OR 97201
Attention: The Board of Directors of Willamette Industries
Gentlemen:
As you know, we have been trying to open a meaningful dialogue regarding a
combination of Willamette and Weyerhaeuser. Working together we can negotiate
a transaction that maximizes value for the shareholders and benefits the
constituencies of both companies. We have refrained from speculating about
matters where more information was required to accurately evaluate the
situation. However, Willamette management has made comments to the media that
have no basis in fact. We believe these comments only serve to cause needless
anxiety among your employees and in the communities in which you operate, and
create conflict where none exists.
Most recently, in a letter to the editor of the Business Journal of Portland
dated March 23, 2001, Duane McDougall, Willamette's president and CEO, made
statements that can only be characterized as speculation. Mr. McDougall said
of the proposed combination with Weyerhaeuser, "hundreds, if not thousands, of
people would likely lose their jobs." We believe Mr. McDougall's statement is
intended to mislead the public and employees in an attempt to rally support
against a combination with Weyerhaeuser. We have been quite clear that we see
minimal impact to the combined employee base as a result of the transaction.
Willamette has repeatedly refused to engage in any discussions with
Weyerhaeuser to explore the merits of the proposed combination and obtain an
informed basis for beliefs about possible effects of the transaction.
Let's focus on the future and the facts - we believe a combination of our two
companies will benefit all Willamette and Weyerhaeuser constituencies. As we
have said, and repeat here again, we welcome discussion with Willamette
regarding this transaction, and if Willamette can demonstrate additional
value, Weyerhaeuser stands ready to negotiate.
Sincerely,
/s/ STEVEN R. ROGEL
Steven R. Rogel
Chairman, President and CEO