Suzano Drops Its Pursuit of Acquisition of International Paper.

Suzano SA has decided to end its pursuit of acquiring International Paper Co. after the latter rejected its offers in favor of its own merger plans with another company. Suzano stated that it was unable to engage International Paper in serious negotiations and was not willing to increase its offer further. This decision clears the way for International Paper's plan to acquire DS Smith Plc. A takeover would have allowed Suzano, the world's largest pulp producer, to expand internationally and diversify its operations. [Extracted from the article]