Suzano says it has terminated talks to buy International Paper (updated)

Suzano SA

27/06/2024 24:25

(Adds background about the potential deal in paragraphs 2-4 and
details of the filing in paragraph 3)
       SAO PAULO, June 26 (Reuters) - Brazilian pulpmaker
Suzano  SUZB3.SA  said on Wednesday it has terminated talks to
buy International Paper  IP.N , according to a securities
filing.
    Suzano said last month it was interested in assets owned by
International Paper, after Reuters reported the company had
approached the U.S.-based firm to express interest verbally in
an all-cash acquisition worth $15 billion.
        In Wednesday's filing, Suzano said "it has reached what
it believes to be the maximum price for the transaction to
generate value" for itself, "without engagement from the other
party."
  
        Reuters 
    reported
     in May that Suzano had been in talks with advisers about
sweetening an offer for International Paper.
  

 (Reporting by Andre Romani; 
Editing by Sandra Maler and Chris Reese)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))