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(WLL) - Get Whiting Petroleum Corporation Report

sold off in the premarket after the company said it was recommending against a sweetened takeover bid launched by


(WY) - Get Weyerhaeuser Company Report

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The Portland, Ore., forest products firm said it would instead continue to pursue its bid to acquire the building products unit of



, a move that Weyerhaeuser previously warned would cause it to terminate its bid.

Weyerhaeuser is offering $55 cash for each Willamette share, or $6.05 billion. On Instinet, Willamette recently traded down $6.06, or 12%, to $43.90.