International Paper Stock Tumbles as Brazil's Suzano Ends Takeover Effort

Brazilian pulp and paper firm Suzano announced that it has ended efforts to purchase International Paper. Suzano's CFO said the firm made the maximum offer it could, "without engagement" from International Paper, and chose to end the talks. The news sent shares of International Paper lower. Suzano Chief Financial Officer (CFO) Marcelo Feriozzi Bacci blamed the breakdown on International Paper. He wrote in a regulatory filing that his firm "has reached what it believes to be the maximum price for the transac ...