Brazilian pulp and paper company Suzano is understood to be in talks to offer a higher bid for the previously announced $15bn acquisition of International Paper (IP).
According to a report by Reuters – which in May claimed that Suzano has submitted a proposed to purchase the assets of US-based IP – IP had previously rejected Suzano’s initial approach, and Suzano is now discussing raising its offer “by a few dollars per share.”
On 22 May, Suzano confirmed it “has an interest in acquiring the assets of International Paper.
“At this point, no agreement has been reached or decision taken. We will not be commenting further.”
