Suzano terminates negotiations on potential IP takeover
Suzano says to have reached a maximum price for International Paper and will not pursue with the proposed acquisition of the US paper and packaging group. Brazil's pulp giant Suzano has backed away from a possible takeover of International Paper (IP). According to Suzano, after some negotiations with International Paper regarding a possible transaction between the two companies, the company belives to have already reached a maximum price for the transaction that would generate value for Suzano. "Therefore, in observance of its commitment to capital discipline, Suzano formalizes that it will not pursue a transaction involving the acquisition of International Paper," the company announced.