Decentralized downlink beamformer design for coherent coordinated multi-point transmission is proposed with weighted sum rate maximization system performance objective. The weighted sum rate is maximized by successive convex approximation of the corresponding weighted mean-squared error minimization problem. Decentralized beam coordination is achieved by employing a best response design, where each base station designs its own precoders in parallel assuming fixed transmission from the adjacent cells. After each beamformer update, the fixed terms are updated according to the solutions of the cooperating transmitters. The proposed design incorporates a bi-directional beamformer signaling scheme to improve the convergence properties. This scheme exploits the time division duplexing frame structure and is shown to improve the training latency of the iterative transceiver design. Furthermore, the improved transceiver convergence rate enables periodic beamformer reinitialization, which greatly improves the achieved system performance in dense networks.