Form 8.3 - International Paper Company

LONDON, June 24, 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		21st 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:		2,814,378		0.810%		2,055,829		0.592%
(2) Cash-settled derivatives:		328		0.000%		479,926		0.138%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		322,200		0.093%		2,000		0.001%
TOTAL:		3,136,906		0.903%		2,537,755		0.731%

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	320	46.27
US4601461035	Sale	2,625	46.02
US4601461035	Sale	400	46.06
US4601461035	Purchase	4	46.08
US4601461035	Sale	27	46.08
US4601461035	Purchase	316	45.97
US4601461035	Sale	680	46.22
US4601461035	Purchase	160	45.85
US4601461035	Sale	200	45.99
US4601461035	Sale	1	46.01
US4601461035	Sale	160	46.34
US4601461035	Sale	6	46.27
US4601461035	Sale	6	46.11
US4601461035	Sale	4	46.02
US4601461035	Purchase	25	46.08
US4601461035	Sale	1	46.08
US4601461035	Sale	8	46.04
US4601461035	Sale	966	46.11
US4601461035	Sale	101	46.10
US4601461035	Sale	1,229	46.02
US4601461035	Sale	49	46.06
US4601461035	Purchase	101,441	46.08
US4601461035	Sale	6,831	46.08
US4601461035	Sale	78	45.76
US4601461035	Sale	276	46.09
US4601461035	Sale	200	45.85
US4601461035	Sale	13	46.15
US4601461035	Sale	547	46.03
US4601461035	Sale	16	46.19
US4601461035	Sale	104	46.04
US4601461035	Sale	364	46.00
US4601461035	Sale	15	46.44
US4601461035	Sale	100	45.92
US4601461035	Sale	27	45.98
US4601461035	Sale	1	46.20
US4601461035	Sale	365	46.10
US4601461035	Sale	4,587	46.02
US4601461035	Sale	1,065	46.05
US4601461035	Sale	129	46.25
US4601461035	Sale	14	46.06
US4601461035	Purchase	186,871	46.08
US4601461035	Sale	74	46.08
US4601461035	Sale	200	45.97
US4601461035	Sale	1	45.80
US4601461035	Sale	100	46.22
US4601461035	Sale	419	46.09
US4601461035	Sale	18	45.96
US4601461035	Sale	17	45.99
US4601461035	Sale	1,986	46.01
US4601461035	Sale	7,809	46.03
US4601461035	Sale	119	46.07
US4601461035	Sale	1,550	46.04
US4601461035	Sale	59	46.12
US4601461035	Sale	1,413	46.00
US4601461035	Sale	100	46.40
US4601461035	Sale	100	45.94
US4601461035	Sale	20	46.17
US4601461035	Sale	900	45.98
US4601461035	Sale	100	45.77
US4601461035	Sale	110	45.91
US4601461035	Sale	4,098	46.13
US4601461035	Sale	300	46.11
US4601461035	Sale	1,315	46.10
US4601461035	Sale	11,894	46.02
US4601461035	Sale	3,213	46.05
US4601461035	Purchase	2,578	46.25
US4601461035	Sale	2,763	46.06
US4601461035	Sale	4,413	46.18
US4601461035	Sale	21,287	46.08
US4601461035	Sale	46	45.76
US4601461035	Sale	10	45.80
US4601461035	Sale	600	46.09
US4601461035	Sale	200	45.96
US4601461035	Sale	200	45.84
US4601461035	Sale	11	46.15
US4601461035	Sale	704	46.30
US4601461035	Sale	501	46.26
US4601461035	Sale	10,774	46.01
US4601461035	Sale	4,864	46.03
US4601461035	Sale	1,923	46.19
US4601461035	Sale	220	46.07
US4601461035	Sale	8,406	46.04
US4601461035	Sale	5,249	46.00
US4601461035	Sale	476	45.78
US4601461035	Sale	109	46.14
US4601461035	Sale	100	46.41
US4601461035	Sale	3,485	46.17
US4601461035	Sale	100	45.98
US4601461035	Sale	3	46.21
US4601461035	Sale	11	45.67
US4601461035	Sale	46	46.20
US4601461035	Sale	4	46.11
US4601461035	Purchase	2	46.10
US4601461035	Sale	220	46.10
US4601461035	Purchase	1,270	46.02
US4601461035	Sale	219	46.02
US4601461035	Purchase	13,820	46.05
US4601461035	Sale	409	46.05
US4601461035	Purchase	862	46.25
US4601461035	Sale	636	46.25
US4601461035	Purchase	1,111	46.06
US4601461035	Sale	6	46.06
US4601461035	Purchase	154	46.18
US4601461035	Purchase	32,974	46.08
US4601461035	Sale	557	46.08
US4601461035	Purchase	42	45.97
US4601461035	Sale	280	45.97
US4601461035	Purchase	81	45.76
US4601461035	Sale	50	45.76
US4601461035	Sale	14	45.66
US4601461035	Purchase	12	45.80
US4601461035	Sale	96	45.80
US4601461035	Sale	72	46.22
US4601461035	Purchase	34	46.09
US4601461035	Sale	111	46.09
US4601461035	Purchase	336	45.96
US4601461035	Purchase	212	45.84
US4601461035	Sale	3	45.84
US4601461035	Purchase	12	46.16
US4601461035	Sale	131	46.16
US4601461035	Sale	6	46.29
US4601461035	Purchase	1,219	45.99
US4601461035	Sale	158	45.99
US4601461035	Purchase	100	45.81
US4601461035	Purchase	13	45.74
US4601461035	Purchase	6	45.89
US4601461035	Purchase	188	45.90
US4601461035	Sale	200	45.90
US4601461035	Purchase	1,104	46.01
US4601461035	Sale	386	46.01
US4601461035	Purchase	2,829	46.03
US4601461035	Sale	994	46.03
US4601461035	Purchase	15	45.93
US4601461035	Purchase	721	46.07
US4601461035	Sale	47	46.07
US4601461035	Purchase	519	45.95
US4601461035	Sale	611	45.95
US4601461035	Purchase	2	45.79
US4601461035	Sale	23	45.79
US4601461035	Purchase	30	45.86
US4601461035	Purchase	339	46.04
US4601461035	Sale	89	46.04
US4601461035	Purchase	327	46.12
US4601461035	Sale	223	46.12
US4601461035	Purchase	150	46.00
US4601461035	Sale	100	46.00
US4601461035	Purchase	281	45.82
US4601461035	Purchase	761	45.73
US4601461035	Purchase	72	45.75
US4601461035	Sale	318	45.78
US4601461035	Sale	2	46.40
US4601461035	Purchase	46	46.14
US4601461035	Sale	24	46.14
US4601461035	Purchase	19	45.94
US4601461035	Sale	212	46.32
US4601461035	Purchase	77	45.71
US4601461035	Purchase	123	46.17
US4601461035	Sale	20	46.38
US4601461035	Sale	144	46.36
US4601461035	Sale	70	46.35
US4601461035	Sale	1	46.43
US4601461035	Purchase	133	45.98
US4601461035	Sale	175	45.98
US4601461035	Purchase	32	45.83
US4601461035	Purchase	21	45.88
US4601461035	Sale	700	45.88
US4601461035	Purchase	197	45.77
US4601461035	Sale	7	45.77
US4601461035	Purchase	28	45.69
US4601461035	Purchase	25	45.63
US4601461035	Sale	30	46.21
US4601461035	Purchase	477	45.91
US4601461035	Sale	251	45.91
US4601461035	Purchase	5	45.87
US4601461035	Sale	171	45.87
US4601461035	Sale	40	46.37
US4601461035	Purchase	19	46.27
US4601461035	Purchase	1	46.20
US4601461035	Purchase	25	46.13
US4601461035	Purchase	294	46.10
US4601461035	Purchase	53	46.02
US4601461035	Sale	11	46.02
US4601461035	Purchase	100	46.05
US4601461035	Purchase	1,495	46.25
US4601461035	Sale	1,523	46.25
US4601461035	Purchase	100	46.06
US4601461035	Purchase	400	46.18
US4601461035	Purchase	9,810	46.08
US4601461035	Sale	515,451	46.08
US4601461035	Purchase	44	45.80
US4601461035	Sale	6	45.80
US4601461035	Purchase	44	45.84
US4601461035	Purchase	1,700	46.15
US4601461035	Purchase	214	46.16
US4601461035	Purchase	6	46.29
US4601461035	Sale	200	46.29
US4601461035	Sale	801	45.99
US4601461035	Purchase	56	45.81
US4601461035	Sale	62	45.74
US4601461035	Sale	184	45.90
US4601461035	Purchase	269	46.01
US4601461035	Purchase	33	46.03
US4601461035	Purchase	300	46.19
US4601461035	Sale	46	46.19
US4601461035	Purchase	23	46.07
US4601461035	Purchase	23	45.79
US4601461035	Sale	16	45.86
US4601461035	Purchase	118	46.04
US4601461035	Purchase	15	46.00
US4601461035	Sale	9	46.00
US4601461035	Sale	238	45.82
US4601461035	Sale	644	45.73
US4601461035	Purchase	13	45.75
US4601461035	Purchase	29	45.78
US4601461035	Purchase	4	46.40
US4601461035	Purchase	2	46.14
US4601461035	Purchase	5	46.32
US4601461035	Purchase	6	46.31
US4601461035	Purchase	8	46.41
US4601461035	Purchase	450	46.17
US4601461035	Sale	114	46.17
US4601461035	Purchase	4	46.35
US4601461035	Purchase	15	45.92
US4601461035	Sale	58	45.92
US4601461035	Purchase	200	45.83
US4601461035	Sale	195	45.77
US4601461035	Purchase	167	46.21
US4601461035	Sale	550	45.91
US4601461035	Purchase	95	45.87
US4601461035	Purchase	6,000	46.09
US4601461035	Purchase	10,000	45.88
US4601461035	Sale	447	46.05
US4601461035	Sale	128	46.06
US4601461035	Sale	13,608	46.08
US4601461035	Sale	89	45.97
US4601461035	Sale	69	45.96
US4601461035	Sale	454	46.01
US4601461035	Sale	829	46.03
US4601461035	Sale	104	45.95
US4601461035	Sale	443	46.04
US4601461035	Sale	447	46.00
US4601461035	Sale	285	45.71
US4601461035	Sale	253	45.98
US4601461035	Sale	180	45.77
US4601461035	Purchase	2,678	46.08
US4601461035	Sale	2,678	46.08
US4601461035	Purchase	515,451	46.08

(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)

(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)
US4601461035	Call Option	Exercised	304,800	42.50

(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:		24th 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	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	85,000	42.50	American	10/18/2024
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/20240624619629/en/

Contacts

Millennium Partners, L.P.