Newspaper article The Christian Science Monitor

Business & Finance

Newspaper article The Christian Science Monitor

Business & Finance

Article excerpt

Weyerhaeuser Co., in a new unsolicited effort to acquire forest products rival Willamette Industries, upped its bid to $5.4 billion - or $48 a share - and offered it directly to stockholders. The latter urged the stockholders to take no action until its directors could study the proposal and issue a recommendation. Earlier, Weyerhaeuser offered $36 and then $43 per share. Analysts speculated that investor pressure eventually would compel Willamette to accept a buyout, but perhaps not until Weyerhaeuser's offer reached as high as $52 a share.

BFGoodrich announced it will sell its performance materials business, which specializes in plastics and polymers, to an investor group for $1.4 billion. A spokesman said the move would solidify the transformation from a manufacturer of chemical and tires to an aerospace and industrial products company. The buyers' group is led by AEA Investors Inc., a private equity firm with offices in New York and London. BFGoodrich is based in Charlotte, N. …

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