By Colin Kellaher

Shares of International Paper rose more than 5% in early trading Tuesday following a published report that Brazilian pulp and paper company Suzano has approached the paper-products maker about an all-cash acquisition that would be worth almost $15 billion.

Suzano has verbally communicated a $42-a-share offer to International Paper's board and could submit a formal bid in the coming days, Reuters reports, citing people familiar with the matter.

The reported Suzano bid would represent a nearly 14% premium to International Paper's Monday closing price of $36.92. Shares of the Memphis, Tenn., company were recently changing hands at $39.93, up 5.4%.

Suzano's interest has the potential to upend International Paper's agreement to buy U.K. peer DS Smith in a stock swap worth more than $7 billion.

Write to Colin Kellaher at

(END) Dow Jones Newswires

05-07-24 1026ET