Suzano Will Not Pursue Proposed Acquisition of International Paper

June 26, 2024 - Suzano today said that it will not it will not pursue a transaction involving the acquisition of International Paper.

In a press release, Suzano stated, "Following up on the Material Fact disclosed on May 22nd, 2024, informs its shareholders and the market in general that, after some negotiations with the International Paper Company regarding a potential transaction between the companies, the Company has reached what it believes to be the maximum price for the transaction to generate value for Suzano, without engagement from the other party. Therefore, in observance of its commitment to capital discipline, Suzano formalizes that it will not pursue a transaction involving the acquisition of International Paper."

Suzano concluded, "It is important to emphasize that it has always been a condition of Suzano for the completion of this transaction that the engagement between the parties be based on private, confidential, and amicable terms. As it was not possible to proceed in this manner, Suzano has decided to terminate the negotiations."

Suzano is the world's largest producer of hardwood pulp and a global leader in the innovation and production of renewable, bio-based materials for consumer and industrial use.

SOURCE: Suzano