Brazil's Suzano SA ended its pursuit of acquiring US-based International Paper due to International Paper's merger plans with DS Smith.
Brazil's Suzano SA ended its pursuit of acquiring US-based International Paper Co., as International Paper rejected its overtures in favor of its own merger plans with DS Smith Plc. Suzano was unable to engage in serious discussions and did not wish to increase its offer. International Paper's stock dropped over 13% following the announcement, while Suzano's US-listed shares soared 12%.
June 27, 2024
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