Suzano Drops Its Pursuit of Acquisition of International Paper.

Suzano SA has announced that it is no longer pursuing the acquisition of International Paper Co. International Paper rejected Suzano's offers and instead opted for its own merger plans with another competitor. Suzano was unable to engage International Paper in serious discussions and decided not to increase its offer. This decision clears the way for International Paper's plan to acquire DS Smith Plc, which is expected to close in the fourth quarter. Suzano, the world's largest pulp producer, had considered taking on significant debt for the deal. [Extracted from the article]