Form 8.3 - International Paper Company

LONDON, May 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		16th May 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:		1,276,754		0.368%		720,537		0.207%
(2) Cash-settled derivatives:		1,328		0.000%		814,272		0.234%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		1,302,800		0.375%		489,500		0.141%
TOTAL:		2,580,882		0.743%		2,024,309		0.583%

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	120	40.44
US4601461035	Purchase	120	40.35
US4601461035	Purchase	1,263	40.52
US4601461035	Purchase	684	40.53
US4601461035	Sale	194	39.97
US4601461035	Sale	1,099	40.33
US4601461035	Sale	1,181	40.03
US4601461035	Sale	6	40.53
US4601461035	Sale	1,376	39.97
US4601461035	Sale	1,100	39.95
US4601461035	Sale	514	39.99
US4601461035	Sale	300	39.93
US4601461035	Sale	1,476	40.00
US4601461035	Sale	100	39.80
US4601461035	Sale	1,189	40.01
US4601461035	Sale	100	40.12
US4601461035	Sale	900	39.90
US4601461035	Sale	600	40.09
US4601461035	Sale	6	40.33
US4601461035	Sale	200	39.87
US4601461035	Sale	900	40.10
US4601461035	Sale	200	39.77
US4601461035	Sale	300	40.08
US4601461035	Sale	24	40.21
US4601461035	Sale	12	40.22
US4601461035	Sale	18	40.27
US4601461035	Sale	66	40.36
US4601461035	Sale	6	40.19
US4601461035	Sale	6	40.43
US4601461035	Sale	63	40.51
US4601461035	Sale	6	40.57
US4601461035	Sale	100	39.85
US4601461035	Sale	6	40.50
US4601461035	Sale	800	39.94
US4601461035	Sale	22	40.48
US4601461035	Sale	154	40.30
US4601461035	Sale	6	40.67
US4601461035	Sale	12	40.34
US4601461035	Sale	44	40.41
US4601461035	Sale	16	40.38
US4601461035	Sale	1,014	40.06
US4601461035	Sale	100	39.82
US4601461035	Purchase	12,923	40.52
US4601461035	Purchase	1,029	40.44
US4601461035	Purchase	141	40.35
US4601461035	Purchase	172	40.52
US4601461035	Sale	6,200	40.52
US4601461035	Purchase	2,837	40.53
US4601461035	Purchase	5	40.33
US4601461035	Purchase	207	40.25
US4601461035	Purchase	43	40.47
US4601461035	Purchase	768	40.19
US4601461035	Purchase	177	40.49
US4601461035	Purchase	741	40.50
US4601461035	Purchase	348	40.46
US4601461035	Purchase	44	40.30
US4601461035	Sale	9,406	40.52
US4601461035	Sale	1,584	39.90
US4601461035	Sale	4	40.08
US4601461035	Sale	13,272	40.42
US4601461035	Purchase	1,884	40.56
US4601461035	Sale	359	40.44
US4601461035	Purchase	100	40.35
US4601461035	Sale	400	40.35
US4601461035	Purchase	100	39.89
US4601461035	Sale	2,135	40.52
US4601461035	Sale	142	40.00
US4601461035	Purchase	1,094	40.01
US4601461035	Purchase	196	39.66
US4601461035	Purchase	283	40.18
US4601461035	Purchase	1	40.09
US4601461035	Purchase	110	39.83
US4601461035	Purchase	104	40.15
US4601461035	Purchase	546	40.23
US4601461035	Purchase	100	40.08
US4601461035	Purchase	152	40.21
US4601461035	Purchase	28	40.16
US4601461035	Purchase	100	40.22
US4601461035	Purchase	602	40.17
US4601461035	Purchase	58	40.28
US4601461035	Sale	104	40.28
US4601461035	Purchase	586	40.27
US4601461035	Purchase	376	40.36
US4601461035	Sale	100	40.37
US4601461035	Purchase	100	40.49
US4601461035	Sale	243	40.49
US4601461035	Purchase	367	40.05
US4601461035	Sale	298	40.45
US4601461035	Sale	415	40.50
US4601461035	Purchase	96	40.46
US4601461035	Sale	19	40.46
US4601461035	Sale	1,050	40.59
US4601461035	Sale	141	40.48
US4601461035	Sale	116	40.58
US4601461035	Purchase	581	40.34
US4601461035	Sale	300	40.34
US4601461035	Purchase	52	40.38
US4601461035	Sale	337	40.56
US4601461035	Purchase	100	40.31
US4601461035	Sale	16	40.31
US4601461035	Purchase	984	40.06
US4601461035	Purchase	313	40.04
US4601461035	Purchase	29	40.44
US4601461035	Sale	41	40.44
US4601461035	Sale	4	40.03
US4601461035	Purchase	93	40.35
US4601461035	Sale	6	39.89
US4601461035	Purchase	671	40.29
US4601461035	Sale	99	40.29
US4601461035	Purchase	10,383	40.52
US4601461035	Sale	8,387	40.52
US4601461035	Purchase	699	40.53
US4601461035	Sale	210	40.53
US4601461035	Sale	405	40.00
US4601461035	Sale	910	40.01
US4601461035	Sale	6	39.91
US4601461035	Purchase	2,651	39.66
US4601461035	Sale	2	40.09
US4601461035	Purchase	162	40.33
US4601461035	Sale	39	40.33
US4601461035	Sale	9	39.87
US4601461035	Sale	758	40.14
US4601461035	Sale	2	40.15
US4601461035	Sale	6	40.10
US4601461035	Purchase	28	40.23
US4601461035	Purchase	9	40.16
US4601461035	Sale	10	40.16
US4601461035	Sale	6,968	40.11
US4601461035	Sale	5,483	40.22
US4601461035	Purchase	99	40.24
US4601461035	Sale	147	40.24
US4601461035	Purchase	357	40.28
US4601461035	Sale	1	40.28
US4601461035	Sale	43	40.25
US4601461035	Purchase	57	40.26
US4601461035	Sale	519	40.26
US4601461035	Purchase	79	40.36
US4601461035	Sale	223	40.36
US4601461035	Sale	142	40.47
US4601461035	Purchase	55	40.37
US4601461035	Purchase	771	40.42
US4601461035	Sale	648	40.43
US4601461035	Purchase	4	40.49
US4601461035	Sale	159	40.49
US4601461035	Purchase	1,433	40.51
US4601461035	Sale	440	40.51
US4601461035	Sale	344	40.57
US4601461035	Sale	47	40.66
US4601461035	Sale	594	40.55
US4601461035	Purchase	6	40.45
US4601461035	Sale	23	40.45
US4601461035	Purchase	162	40.50
US4601461035	Sale	14	40.50
US4601461035	Sale	540	40.62
US4601461035	Sale	73	40.61
US4601461035	Purchase	1	40.46
US4601461035	Sale	157	40.46
US4601461035	Sale	518	40.59
US4601461035	Sale	109	40.48
US4601461035	Purchase	138	40.30
US4601461035	Sale	3,635	40.30
US4601461035	Sale	2	40.65
US4601461035	Sale	727	40.58
US4601461035	Purchase	496	40.34
US4601461035	Purchase	10	40.41
US4601461035	Purchase	20	40.38
US4601461035	Sale	10	40.38
US4601461035	Sale	230	40.56
US4601461035	Sale	70	40.54
US4601461035	Purchase	46	40.32
US4601461035	Sale	50	40.32
US4601461035	Purchase	48	40.39
US4601461035	Sale	7	40.39
US4601461035	Purchase	59	40.31
US4601461035	Sale	1	40.31
US4601461035	Purchase	70	40.40
US4601461035	Sale	24	40.64
US4601461035	Sale	996	40.60
US4601461035	Purchase	1,740	40.44
US4601461035	Purchase	5,483	40.03
US4601461035	Purchase	2,224	40.35
US4601461035	Purchase	823	39.89
US4601461035	Purchase	12,815	40.29
US4601461035	Purchase	10,205	40.52
US4601461035	Sale	20,644	40.52
US4601461035	Purchase	5,738	40.53
US4601461035	Sale	3,536	40.53
US4601461035	Purchase	8,701	39.97
US4601461035	Purchase	107	39.88
US4601461035	Purchase	941	39.95
US4601461035	Purchase	8,254	39.99
US4601461035	Purchase	578	39.93
US4601461035	Purchase	4,655	40.00
US4601461035	Purchase	4,803	40.01
US4601461035	Purchase	40	39.86
US4601461035	Purchase	2,330	39.91
US4601461035	Purchase	416	39.66
US4601461035	Purchase	6,667	40.12
US4601461035	Purchase	143	40.07
US4601461035	Purchase	3,670	40.18
US4601461035	Purchase	1,688	39.90
US4601461035	Purchase	878	40.09
US4601461035	Purchase	3,307	40.33
US4601461035	Purchase	1,018	39.96
US4601461035	Purchase	2,400	40.13
US4601461035	Purchase	21	39.84
US4601461035	Purchase	600	39.87
US4601461035	Purchase	3,443	40.14
US4601461035	Purchase	12,278	40.15
US4601461035	Purchase	2,280	40.20
US4601461035	Purchase	300	40.10
US4601461035	Purchase	2	39.75
US4601461035	Purchase	1,500	39.98
US4601461035	Purchase	3,927	40.23
US4601461035	Purchase	1,903	39.92
US4601461035	Purchase	1,029	40.02
US4601461035	Purchase	900	40.08
US4601461035	Purchase	1,431	40.21
US4601461035	Purchase	3,046	40.16
US4601461035	Purchase	2,000	40.11
US4601461035	Purchase	1,137	40.22
US4601461035	Purchase	4,095	40.17
US4601461035	Purchase	1,400	40.24
US4601461035	Purchase	4,306	40.28
US4601461035	Purchase	1,196	40.25
US4601461035	Purchase	2,100	40.26
US4601461035	Purchase	1,951	40.27
US4601461035	Purchase	4,050	40.36
US4601461035	Purchase	11,182	40.47
US4601461035	Purchase	400	40.19
US4601461035	Purchase	6,243	40.37
US4601461035	Purchase	12,643	40.42
US4601461035	Purchase	2,964	40.43
US4601461035	Purchase	9,377	40.49
US4601461035	Purchase	3,000	40.51
US4601461035	Purchase	4,796	40.57
US4601461035	Purchase	500	40.68
US4601461035	Purchase	413	39.85
US4601461035	Purchase	700	40.66
US4601461035	Sale	461	40.66
US4601461035	Purchase	4,478	40.55
US4601461035	Sale	100	40.55
US4601461035	Purchase	882	40.05
US4601461035	Purchase	3,804	40.45
US4601461035	Purchase	6,120	40.50
US4601461035	Sale	886	40.50
US4601461035	Purchase	1,651	40.63
US4601461035	Purchase	1,823	40.62
US4601461035	Sale	139	40.62
US4601461035	Purchase	11,315	40.61
US4601461035	Sale	112	40.61
US4601461035	Purchase	6,690	40.46
US4601461035	Sale	67	40.46
US4601461035	Purchase	462	39.94
US4601461035	Purchase	3,507	40.59
US4601461035	Sale	418	40.59
US4601461035	Purchase	1,500	40.48
US4601461035	Purchase	1,900	40.30
US4601461035	Purchase	1,306	40.67
US4601461035	Purchase	4,700	40.65
US4601461035	Sale	11,997	40.65
US4601461035	Purchase	7,742	40.58
US4601461035	Sale	16	40.58
US4601461035	Purchase	7,310	40.34
US4601461035	Purchase	2,086	40.41
US4601461035	Purchase	2,697	40.38
US4601461035	Purchase	1,803	40.56
US4601461035	Sale	1,967	40.56
US4601461035	Purchase	8,284	40.54
US4601461035	Sale	2	40.54
US4601461035	Purchase	9,855	40.32
US4601461035	Purchase	11,208	40.39
US4601461035	Purchase	1,388	40.31
US4601461035	Purchase	5,590	40.40
US4601461035	Purchase	1,700	40.64
US4601461035	Purchase	3,133	40.06
US4601461035	Purchase	3,450	40.60
US4601461035	Sale	1,062	40.60
US4601461035	Purchase	1,636	40.04
US4601461035	Purchase	115	39.81
US4601461035	Sale	114	40.52
US4601461035	Sale	10	40.53
US4601461035	Sale	5	40.61
US4601461035	Sale	10	40.58
US4601461035	Purchase	16	40.38
US4601461035	Sale	5	40.56
US4601461035	Sale	4	40.54
US4601461035	Sale	35	40.60
US4601461035	Purchase	172	40.52
US4601461035	Sale	172	40.52
US4601461035	Sale	12	40.35
US4601461035	Sale	168	39.89
US4601461035	Sale	2,417	40.52
US4601461035	Sale	6	39.93
US4601461035	Sale	136	40.00
US4601461035	Sale	300	39.80
US4601461035	Sale	6	40.01
US4601461035	Sale	6	39.86
US4601461035	Sale	77	40.07
US4601461035	Sale	79	40.18
US4601461035	Sale	75	39.90
US4601461035	Sale	12	40.09
US4601461035	Sale	130	39.83
US4601461035	Sale	200	39.96
US4601461035	Sale	12	39.87
US4601461035	Sale	600	40.14
US4601461035	Sale	6	40.10
US4601461035	Sale	73	40.08
US4601461035	Sale	100	40.16
US4601461035	Sale	112	40.17
US4601461035	Sale	721	40.25
US4601461035	Sale	588	40.26
US4601461035	Sale	1	40.36
US4601461035	Sale	18	40.37
US4601461035	Sale	6	39.85
US4601461035	Sale	6	40.05
US4601461035	Sale	1,026	40.50
US4601461035	Sale	12	39.94
US4601461035	Sale	24	40.30
US4601461035	Sale	13	40.34
US4601461035	Sale	24	40.38
US4601461035	Sale	12	40.32
US4601461035	Sale	1	40.39
US4601461035	Sale	1	40.40
US4601461035	Sale	282	40.04
US4601461035	Purchase	7,262	40.52

(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
US4601461035		Equity Swap		Reducing a short position		50,013		31.47 GBP
US4601461035		Equity Swap		Reducing a short position		75,318		31.65 GBP

(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 May 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	25,000	35.00	American	5/17/2024
US4601461035	Put Option	Purchased	26,700	34.00	American	5/17/2024
US4601461035	Call Option	Written	300,000	50.00	American	10/18/2024
US4601461035	Call Option	Purchased	639,800	42.50	American	6/21/2024
US4601461035	Call Option	Purchased	160,000	40.00	American	7/19/2024
US4601461035	Call Option	Written	160,000	50.00	American	7/19/2024
US4601461035	Call Option	Purchased	300,000	42.50	American	10/18/2024
US4601461035	Call Option	Purchased	25,600	42.00	American	5/17/2024
US4601461035	Put Option	Written	125,000	37.50	American	6/21/2024

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/20240517818986/en/

Contacts

Millennium Partners, L.P.