Brazilian pulp and paper giant Suzano formally denies reports on an alleged takeover bid for US paper group International Paper (IP) that had been published in the financial press.
The statement refers to an article published by Reuters, saying that "Suzano has approached U.S.-based International Paper to express interest in an all-cash acquisition that would be worth almost $15bn, according to people familiar with the matter".
However, in a press release Suzano declares it is continuously analysing market opportunities and investments. But "there is no formal document or celebration of any agreement, binding or otherwise, by Suzano, nor any decision or resolution of its management bodies regarding the potential operation reported by the media", it continues.