Suzano Approaches International Paper on Bid, Reuters Says.

Suzano SA, the world's largest pulp producer, has approached International Paper Co. about a potential all-cash offer to acquire the US company for nearly $15 billion. The bid of $42 per share would represent a 14% premium to International Paper's closing price on Monday. Suzano is in talks with potential lenders to finance the transaction, which would require International Paper to abandon its deal with DS Smith. The paper and packaging sector has been experiencing consolidation, and a bid for International Paper would be the latest attempt by a foreign company to acquire a US giant. [Extracted from the article]