Form 8.3 - International Paper Company

LONDON, June 17, 2024--(BUSINESS WIRE)--

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser:		Millennium International Management LP
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree		International Paper Company
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:
(e) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure		14th June 2024
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A"		Yes, Smith (DS) plc

2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:		Common Stock (US4601461035)
		Interests				Short positions
		Number		%		Number		%
(1) Relevant securities owned and/or controlled:		1,672,802		0.482%		1,908,159		0.549%
(2) Cash-settled derivatives:		328		0.000%		523,926		0.151%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		837,000		0.241%		2,800		0.001%
TOTAL:		2,510,130		0.723%		2,434,885		0.701%

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit (USD)
US4601461035	Sale	2,682	45.15
US4601461035	Sale	57	45.24
US4601461035	Sale	3,203	45.11
US4601461035	Sale	8,808	45.06
US4601461035	Sale	1,655	45.14
US4601461035	Sale	23,119	45.21
US4601461035	Sale	2,342	45.25
US4601461035	Purchase	12,132	44.89
US4601461035	Sale	59,897	44.89
US4601461035	Sale	41,669	45.08
US4601461035	Sale	18,969	45.20
US4601461035	Sale	1,000	45.23
US4601461035	Sale	833	44.95
US4601461035	Sale	3,100	45.19
US4601461035	Sale	2,410	45.16
US4601461035	Sale	3,124	45.17
US4601461035	Sale	5,220	45.10
US4601461035	Sale	11,903	45.09
US4601461035	Sale	4,839	44.98
US4601461035	Sale	7,929	45.02
US4601461035	Sale	1,419	45.18
US4601461035	Sale	4,997	44.94
US4601461035	Sale	12,579	45.22
US4601461035	Sale	53,858	45.07
US4601461035	Sale	725	44.99
US4601461035	Sale	1,010	44.97
US4601461035	Sale	358	45.13
US4601461035	Sale	993	45.04
US4601461035	Sale	300	45.00
US4601461035	Sale	807	45.05
US4601461035	Sale	6,634	45.03
US4601461035	Sale	23,880	44.96
US4601461035	Sale	100	44.88
US4601461035	Sale	5,044	44.92
US4601461035	Sale	13	45.24
US4601461035	Purchase	102	45.11
US4601461035	Sale	4,462	44.89
US4601461035	Purchase	68	45.08
US4601461035	Sale	7	45.20
US4601461035	Sale	47	45.17
US4601461035	Sale	6	45.01
US4601461035	Purchase	2	45.10
US4601461035	Purchase	8	45.09
US4601461035	Purchase	716	45.07
US4601461035	Sale	3,815	45.07
US4601461035	Sale	29	44.97
US4601461035	Sale	6	45.32
US4601461035	Sale	1	45.35
US4601461035	Sale	1,549	45.15
US4601461035	Sale	494	44.90
US4601461035	Sale	842	45.24
US4601461035	Sale	518	45.11
US4601461035	Sale	1,724	45.06
US4601461035	Sale	746	45.21
US4601461035	Sale	399	45.25
US4601461035	Sale	6,700	44.89
US4601461035	Sale	4,379	45.08
US4601461035	Sale	500	45.20
US4601461035	Sale	20	45.26
US4601461035	Sale	1,178	45.23
US4601461035	Sale	500	44.95
US4601461035	Sale	85	45.47
US4601461035	Sale	4,249	45.19
US4601461035	Sale	2,463	45.16
US4601461035	Sale	24	45.36
US4601461035	Sale	3,676	45.17
US4601461035	Sale	53	45.01
US4601461035	Sale	100	45.10
US4601461035	Sale	2,493	45.12
US4601461035	Sale	3,192	45.09
US4601461035	Sale	1,322	45.02
US4601461035	Sale	5,112	45.18
US4601461035	Sale	1	45.22
US4601461035	Sale	10,173	45.07
US4601461035	Sale	140	44.99
US4601461035	Sale	133	44.97
US4601461035	Sale	98	45.13
US4601461035	Sale	1,510	45.04
US4601461035	Sale	95	45.00
US4601461035	Sale	10,720	45.05
US4601461035	Sale	300	44.91
US4601461035	Sale	240	44.96
US4601461035	Purchase	199	45.35
US4601461035	Purchase	94	45.15
US4601461035	Sale	16	45.15
US4601461035	Purchase	823	44.90
US4601461035	Sale	15	44.90
US4601461035	Purchase	3	45.24
US4601461035	Sale	11	45.24
US4601461035	Sale	1,984	45.11
US4601461035	Purchase	262	45.42
US4601461035	Purchase	100	45.37
US4601461035	Purchase	163	45.44
US4601461035	Purchase	180	45.06
US4601461035	Sale	464	45.06
US4601461035	Purchase	409	45.14
US4601461035	Sale	5	45.14
US4601461035	Purchase	458	45.21
US4601461035	Sale	92	45.21
US4601461035	Purchase	2	45.25
US4601461035	Sale	23	45.25
US4601461035	Purchase	4,283	44.89
US4601461035	Sale	24,604	44.89
US4601461035	Purchase	355	45.08
US4601461035	Sale	466	45.08
US4601461035	Purchase	52	45.49
US4601461035	Purchase	16	45.26
US4601461035	Sale	12	45.26
US4601461035	Sale	21	45.23
US4601461035	Purchase	97	44.95
US4601461035	Sale	2	44.95
US4601461035	Purchase	15	45.47
US4601461035	Purchase	1,719	45.19
US4601461035	Purchase	65	45.39
US4601461035	Purchase	4	45.16
US4601461035	Sale	24	45.16
US4601461035	Sale	91	45.27
US4601461035	Purchase	119	45.17
US4601461035	Purchase	66	45.01
US4601461035	Sale	1	45.01
US4601461035	Purchase	422	45.10
US4601461035	Sale	453	45.10
US4601461035	Sale	368	45.12
US4601461035	Sale	2,388	45.09
US4601461035	Purchase	310	44.98
US4601461035	Purchase	153	45.18
US4601461035	Sale	46	45.18
US4601461035	Purchase	43	44.94
US4601461035	Sale	17	44.94
US4601461035	Purchase	958	45.22
US4601461035	Sale	31	45.22
US4601461035	Sale	460	45.28
US4601461035	Purchase	418	45.07
US4601461035	Sale	116	45.07
US4601461035	Sale	2	44.99
US4601461035	Purchase	36	45.33
US4601461035	Purchase	5	45.00
US4601461035	Purchase	207	45.32
US4601461035	Purchase	121	45.05
US4601461035	Sale	3	45.05
US4601461035	Purchase	25	45.31
US4601461035	Purchase	3	45.03
US4601461035	Sale	324	45.03
US4601461035	Purchase	58	44.96
US4601461035	Sale	45	44.96
US4601461035	Purchase	241	44.93
US4601461035	Purchase	105	45.35
US4601461035	Purchase	15	45.15
US4601461035	Purchase	812	44.90
US4601461035	Purchase	1,011	45.11
US4601461035	Sale	102	45.11
US4601461035	Purchase	137	45.37
US4601461035	Sale	3	45.44
US4601461035	Purchase	19	45.06
US4601461035	Purchase	6	45.14
US4601461035	Purchase	5	45.21
US4601461035	Purchase	25	45.25
US4601461035	Purchase	155,306	44.89
US4601461035	Sale	463	44.89
US4601461035	Purchase	419	45.08
US4601461035	Purchase	7,943	45.20
US4601461035	Purchase	10	45.26
US4601461035	Purchase	309	44.95
US4601461035	Sale	40	44.95
US4601461035	Sale	7	45.47
US4601461035	Purchase	176	45.19
US4601461035	Purchase	100	45.39
US4601461035	Purchase	100	45.16
US4601461035	Purchase	22	45.36
US4601461035	Sale	5	45.36
US4601461035	Purchase	152	45.17
US4601461035	Purchase	104	45.01
US4601461035	Purchase	200	45.10
US4601461035	Purchase	10,478	45.09
US4601461035	Purchase	12	44.98
US4601461035	Purchase	1,250	45.02
US4601461035	Purchase	18	45.18
US4601461035	Purchase	259	45.38
US4601461035	Purchase	500	44.94
US4601461035	Purchase	215	45.28
US4601461035	Purchase	3,854	45.07
US4601461035	Purchase	143	45.00
US4601461035	Purchase	128	45.32
US4601461035	Purchase	100	44.91
US4601461035	Sale	30	44.91
US4601461035	Purchase	189	45.03
US4601461035	Purchase	113	45.29
US4601461035	Sale	20	44.93
US4601461035	Sale	140,188	44.89
US4601461035	Sale	5	45.15
US4601461035	Sale	70	45.17
US4601461035	Sale	25	45.01
US4601461035	Sale	77	45.02
US4601461035	Sale	45	45.00
US4601461035	Sale	129	45.05
US4601461035	Sale	100	44.90
US4601461035	Sale	100	45.24
US4601461035	Purchase	44	44.89
US4601461035	Sale	12,316	44.89
US4601461035	Sale	600	45.08
US4601461035	Sale	100	45.23
US4601461035	Sale	300	45.10
US4601461035	Sale	200	45.12
US4601461035	Sale	166	44.94
US4601461035	Sale	100	45.28
US4601461035	Sale	600	45.13
US4601461035	Sale	11,101	44.89
US4601461035	Purchase	2	44.90
US4601461035	Sale	116	45.24
US4601461035	Sale	4,783	45.11
US4601461035	Sale	160	45.44
US4601461035	Purchase	8,326	44.89
US4601461035	Purchase	160	44.95
US4601461035	Sale	188	45.17

(b) Cash-settled derivative transactions

Class of relevant security		Product description e.g. CFD		Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position		Number of reference securities		Price per unit (GBP)
US4601461035		Equity Swap		Increasing a short position		28,062		34.80
US4601461035		Equity Swap		Closing a short position		28,062		34.80

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit (USD)	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Class of relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit (USD)

(d) Other dealings (including subscribing for new securities)

Class of relevant security		Nature of dealing e.g. subscription, conversion		Details		Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none"

NONE

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none"

NONE

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

YES

Date of disclosure:		17th June 2024
Contact name:		Stephen Glasper
Telephone number:		+44 203 398 2166

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1. KEY INFORMATION

Full name of person making disclosure:	Millennium International Management LP
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:	International Paper Company

2. STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

Class of relevant security	Product description e.g. call option	Written or purchased	Number of securities to which option or derivative relates	Exercise price per unit (USD)	Type e.g. American, European etc.	Expiry date
US4601461035	Call Option	Purchased	100	35.00	American	1/17/2025
US4601461035	Call Option	Purchased	300	40.00	American	1/17/2025
US4601461035	Put Option	Purchased	800	32.50	American	1/17/2025
US4601461035	Put Option	Purchased	800	35.00	American	6/21/2024
US4601461035	Put Option	Purchased	1,200	35.00	American	7/19/2024
US4601461035	Call Option	Purchased	27,000	37.50	American	7/19/2024
US4601461035	Call Option	Purchased	160,000	42.50	American	9/20/2024
US4601461035	Call Option	Purchased	304,800	42.50	American	6/21/2024
US4601461035	Call Option	Purchased	170,000	42.50	American	10/18/2024
US4601461035	Put Option	Written	125,000	37.50	American	6/21/2024
US4601461035	Call Option	Purchased	12,200	45.00	American	1/17/2025
US4601461035	Call Option	Purchased	400	45.00	American	10/18/2024
US4601461035	Call Option	Purchased	17,200	45.00	American	9/20/2024
US4601461035	Call Option	Purchased	10,000	50.00	American	9/20/2024
US4601461035	Call Option	Purchased	10,000	47.50	American	9/20/2024

3. AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position can be fully understood:

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

The currency of all prices and other monetary amounts should be stated.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240617979369/en/

Contacts

Millennium Partners, L.P.