Brazilian giant Suzano considers US$15B bid for International Paper

USA – Brazilian pulp and paper giant Suzano has approached International Paper (IP) with a compelling all-cash acquisition offer valued at nearly US$15 billion, according to sources familiar with the matter cited by Reuters.

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Suzano has reportedly communicated its proposed offer of US$42 per share directly to IP’s board of directors and is expected to formalize the bid in the coming days. However, Reuters sources suggest that IP will likely rebuff Suzano’s advances, deeming the offer “inadequate.”

Based in Memphis, Tennessee, IP has refrained from commenting on the potential acquisition and instead emphasized its focus on finalizing its merger with DS Smith.

In a statement, IP affirmed its commitment to executing business strategies under new CEO Andy Silvernail, aimed at achieving superior profit margins and significant earnings growth. The company also noted its anticipation of improved industry conditions, signaling a positive turnaround in earnings.

Reuters reports that Suzano, as part of its bid strategy, is exploring debt financing options to support the acquisition, a move that demonstrates the company’s commitment to the deal. Suzano has also communicated to IP that its offer is contingent upon IP terminating its merger agreement with DS Smith, a strategic decision that could significantly impact the outcome of the acquisition.

According to a report from Investing.com, if Suzano’s proposed US$15 billion acquisition of IP materializes, it would mark the largest-ever deal in the sector, underscoring its potential magnitude and significance.

Supremex acquires assets of Forest Envelope Group

In other news, Supremex Inc. announced the acquisition of Forest Envelope Group’s assets, a prominent specialty envelope manufacturer based in Bolingbrook, Illinois, in Greater Chicago.

The transaction, valued at approximately US$1.8 million, was executed on a cash-free and debt-free basis, subject to customary adjustments, and was financed through Supremex’s existing credit facility.

Stewart Emerson, President and CEO of Supremex, commented on the acquisition, stating, “The addition of Forest Envelope aligns seamlessly with our operations in the U.S. Midwest region.”

He emphasized Forest Envelope’s strong reputation for delivering high-quality products, exceptional customer service, and reliable on-time delivery.

Given the proximity of Forest Envelope’s operations to Supremex’s existing plants in Naperville and Chicago, Emerson outlined plans to integrate Forest Envelope’s activities into these facilities within the next 90 days.

Emerson highlighted that this integration will be transparent to customers, offering them access to expanded capacity and a broader range of products.

As a result of this strategic tuck-in operation, he anticipates rapid synergies within Supremex’s U.S. Envelope network.

Supremex Inc. is recognized as a leading manufacturer and marketer of envelopes in North America, with a growing presence in paper-based packaging solutions.

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