02 Jul 2024 --- Suzano will not proceed with its attempt to acquire International Paper (IP), as IP rejected its offer of US$15 billion as too little, and Suzano was unwilling to rebid. The fall through brings IP’s merger with DS Smith back into the picture, for which shares shot up last week following the announcement. Suzano shared the following statement with Packaging Insights: “After some negotiations with the IP company regarding a potential transaction between the companies, [Suzano] has reached what it believes to be the maximum price for the transaction to generate value for Suzano, without engagement from the other party.”
