Brazilian pulp and paper company Suzano has reportedly approached International Paper to express interest in an all-cash acquisition worth nearly $15 billion, according to a report in Reuters. This news comes less than one month after International Paper agreed to buy British packaging firm DS Smith for $7.2 billion.

Suzano communicated a $42-per-share verbal offer to IP’s board of directors and could submit a formal bid in coming days. IP is expected to reject Suzano’s offer as inadequate.