08 May 2024 --- Brazilian pulp and paper giant Suzano has reportedly approached International Paper (IP) with a US$15 billion acquisition offer. However, IP issued a “no comment” statement on the speculations yesterday, noting it is currently coming out of a low-profit cycle and is focusing on its recent merger agreement with DS Smith. Suzano also said in a securities filing that “there is no formal document or celebration of any agreement.”The reports, issued by sources to Reuters, claim that a potential bid of US$42 a share by the Brazilian behemoth was communicated verbally and suggested a formal proposal could be submitted within days. The outlet cited inside sources. The offer would be a 14% premium to IP’s closing price on Monday.
