Suzano Approaches International Paper on Bid, Reuters Says.

Suzano SA, the world's largest pulp producer, has approached International Paper Co. with a potential all-cash offer of nearly $15 billion, according to Reuters. The bid, which was communicated verbally, may be submitted formally in the coming days. Suzano's proposal would require International Paper to abandon its deal with DS Smith, a UK packaging rival. The potential acquisition would allow Suzano to expand further into the packaging sector, and it would be the largest cross-border deal by a Brazilian company since 2007. The paper and packaging industry has experienced consolidation due to increased demand during the pandemic. [Extracted from the article]