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
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[Weyerhaeuser Company logo]
NEWS RELEASE
For Immediate Release
WEYERHAEUSER RECEIVES FINAL CERTIFICATION
OF WILLAMETTE SHAREHOLDER VOTE
FEDERAL WAY, Wash., July 16, 2001 - Weyerhaeuser Company (NYSE: WY) today
announced that the independent inspectors of election have certified the
voting results from the 2001 annual meeting of shareholders of Willamette
Industries, Inc. (NYSE: WLL). The shareholders of Willamette have elected
Weyerhaeuser's slate of nominees, Evelyn Cruz Sroufe, Robert C. Lane and
Thomas M. Luthy, to serve on Willamette's board of directors.
The Weyerhaeuser slate was elected with the support of approximately 51
percent of the total shares voting for either slate. Based on Weyerhaeuser's
analysis, Weyerhaeuser believes that more than 80 percent of the shares held
by "unaffiliated" Willamette shareholders voting in the election were voted in
favor of the Weyerhaeuser nominees.
Weyerhaeuser believes that these results include well over one million shares
that appear to have been improperly voted for Willamette.
Steven R. Rogel, Weyerhaeuser chairman, president and chief executive officer,
said, "As we stated when the preliminary vote results were announced, we
believe the outcome of this election provides a clear directive to Willamette.
Willamette's shareholders, the owners of the company, have elected the
Weyerhaeuser nominees to encourage Willamette to enter into negotiations with
Weyerhaeuser immediately in order to maximize the value of their investment.
"We remain focused on creating the premier forest products company
headquartered in the Pacific Northwest while generating value for both
Weyerhaeuser and Willamette shareholders," Rogel added.
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IMPORTANT INFORMATION
Company Holdings, Inc. ("CHI"), a wholly owned subsidiary of Weyerhaeuser
Company, has commenced a tender offer for all the outstanding shares of common
stock of Willamette Industries, Inc. at $50.00 per share, net to the seller in
cash, without interest. The offer currently is scheduled to expire at 12:00
midnight, New York City time, on August 15, 2001. CHI may extend the offer. If
the offer is extended, CHI will notify the depositary for the offer and issue
a press release announcing the extension on or before 9:00 a.m. New York City
time on the first business day following the date the offer was scheduled to
expire.
Weyerhaeuser Company, one of the world's largest integrated forest products
companies, was incorporated in 1900. In 2000, sales were $16 billion. It has
offices or operations in 17 countries, with customers worldwide. Weyerhaeuser
is principally engaged in the growing and harvesting of timber; the
manufacture, distribution and sale of forest products; and real estate
construction, development and related activities. Additional information about
Weyerhaeuser's businesses, products and practices is available at
www.weyerhaeuser.com.
Today's news release, along with other news about Weyerhaeuser, is available
on the Internet at www.weyerhaeuser.com.
Weyerhaeuser contacts:
ANALYSTS MEDIA
Kathryn McAuley Joele Frank / Jeremy Zweig Bruce Amundson
Weyerhaeuser Joele Frank, Wilkinson Weyerhaeuser
(253) 924-2058 Brimmer Katcher (253) 924-3047
(212) 355-4449