Suzano Says No Agreement Has Been Reached in Rumored Deal to Buy Clearwater Paper

Dec. 31, 2024 - Suzano on Dec. 26 formally responded to the Brazilian Securities Commission (CVM) inquiry about media reports that it was involved in talks with Clearwater Paper about acquiring the U.S.-based company.

News published on the Valor Econômico (São Paulo) website on Dec. 20, 2024, reported that "Suzano is considering acquiring Clearwater Paper, Bloomberg reports, citing sources." Bloomberg's news report titled "Brazil's Suzano Explores Offer for Clearwater Paper" was published on Dec. 19.

The news reports prompted the CVM's letter to Suzano.

The following is Suzano's response to the CVM: "Suzano hereby informs its shareholders and the market in general, in response to media reports regarding the Company allegedly considering the acquisition of the American company Clearwater Paper and Official Letter No. 323/2024/CVM/SEP/GEA-2, issued by the Brazilian Securities Commission (CVM), as transcribed in Annex I to this Notice to the Market, that it continuously evaluates market opportunities and investments aligned with its strategy.

"However, the Company informs that, as of this date, no formal or informal agreement has been reached, nor has any document been signed between the Parties, whether binding or not, nor have any decisions or resolutions been made by its management bodies regarding the potential transaction mentioned in the media.

"Furthermore, the Company clarifies that it conducted the necessary internal inquiries and questioned its managers about the news reported in the media before issuing this clarification.

"Furthermore, the Company did not identify any unusual fluctuations in the securities it has issued or those referenced to it as a result of the aforementioned news."

SOURCE: Suzano and news agencies