Suzano, one of the world's largest pulpmakers, entered talks last year to buy International Paper but did not reach a deal due to the lack of a price agreement between the parties.

The Brazilian company has done billionaire disbursements in the past few years on acquisitions and output expansion, a move that also raised some caution among analysts about its leverage ratio.

Last month, Reuters reported, citing sources, that Suzano was among the final bidders for Kimberly-Clark's international tissue business.