NEW YORK - Brazilian pulp and paper company Suzano has approached U.S.-based International Paper to express interest in an all-cash acquisition that would be worth almost $15 billion, according to people familiar with the matter.
Suzano, which has a market value of 77.2 billion reais , has communicated its $42-per-share offer to International Paper's board of directors verbally, and could submit a formal bid in the coming days, according to the sources, who spoke on condition of anonymity. International Paper shares ended trading in New York on Monday at $36.92.International Paper is poised to reject Suzano's offer as inadequate, one of the sources said.
Last year, Ireland-based Smurfit Kappa agreed to combine with U.S.-based WestRock in a deal worth $20 billion. In February, Suzano reported a 39% fall in its fourth-quarter net profit from a year earlier as lower pulp prices hurt revenue.Buy TD Bank stock and another bank as they crash further into the abyss. The post Big Bank Bull Run? 2 Canadian Bank Stocks Overdue for a Rally appeared first on The Motley Fool Canada.Want a great growth stock to buy and hold for decades? You may want to consider this ridiculously undervalued growth stock.