Why International Paper Stock Is Falling Today
A potential Brazilian acquirer is walking away from its bid for International Paper (NYSE: IP) after the target rebuffed its overtures.
Investors hoping for a big premium are disappointed, sending IP shares down 8% as of 1 p.m. ET.
International Paper is already part of a wave of consolidation sweeping the paper and packaging industry, with a deal in place to buy British rival DS Smith. But in early May, IP switched from hunter to hunted when news broke that Suzano of Brazil was weighing an offer for the U.S.-based company.
Source Fool.com
