Deals
Suzano Drops Its Pursuit of Acquisition of International Paper
- Negotiations end after Suzano reaches maximum price offer
- Suzano sees biggest gain since 2020, International Paper falls
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Suzano SA shares surged the most in four years, while International Paper Co. plunged, after the Brazilian company said it would end its pursuit of the US paper giant.
International Paper, based in Memphis, Tennessee, fell as much as 11% on Thursday, the biggest drop since 2022. Suzano jumped as much as 16% in São Paulo.