Form 8.3 - International Paper Company

LONDON--(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	21^st November 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:	4,433,351	1.276%	1,710,932	0.493%
(2) Cash-settled derivatives:	3,680	0.001%	966,171	0.278%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	12,600	0.004%	128,500	0.037%
TOTAL:	4,449,631	1.281%	2,805,603	0.808%

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	147	59.18
US4601461035	Purchase	144	58.11
US4601461035	Purchase	3	58.00
US4601461035	Sale	109,291	59.18
US4601461035	Sale	2,028	59.18
US4601461035	Sale	659,804	59.18
US4601461035	Sale	327,463	59.18
US4601461035	Sale	5	58.85
US4601461035	Sale	541,883	59.18
US4601461035	Sale	31	58.75
US4601461035	Purchase	35	59.27
US4601461035	Sale	35	59.27
US4601461035	Purchase	5	59.04
US4601461035	Sale	1	58.76
US4601461035	Sale	435	58.20
US4601461035	Sale	351	58.44
US4601461035	Sale	100	58.67
US4601461035	Sale	32,728	58.91
US4601461035	Sale	2	58.73
US4601461035	Sale	100	58.51
US4601461035	Sale	66	58.14
US4601461035	Sale	127	58.23
US4601461035	Sale	433	58.42
US4601461035	Purchase	35	59.17
US4601461035	Sale	2	58.77
US4601461035	Sale	378	58.62
US4601461035	Purchase	320	59.23
US4601461035	Sale	24	59.31
US4601461035	Sale	22	58.94
US4601461035	Sale	6,889	59.18
US4601461035	Sale	100	58.90
US4601461035	Purchase	1,904	59.27
US4601461035	Sale	894	59.27
US4601461035	Sale	100	59.33
US4601461035	Sale	100	59.19
US4601461035	Purchase	32,628	58.91
US4601461035	Sale	23	58.86
US4601461035	Purchase	3	59.34
US4601461035	Sale	320	59.23
US4601461035	Purchase	7,125	59.28
US4601461035	Sale	8,135	59.28
US4601461035	Sale	14	58.92
US4601461035	Sale	46	58.99
US4601461035	Purchase	2	59.39
US4601461035	Sale	2	58.53
US4601461035	Sale	127	59.26
US4601461035	Purchase	9,029	59.32
US4601461035	Sale	5,372	59.31
US4601461035	Sale	1,386	58.84
US4601461035	Purchase	257,286	59.18
US4601461035	Sale	1,934	59.18
US4601461035	Sale	1,413	59.29
US4601461035	Sale	1,759	59.27
US4601461035	Sale	32	59.33
US4601461035	Sale	3	59.19
US4601461035	Sale	288	59.09
US4601461035	Sale	1,084	58.43
US4601461035	Sale	9,301	59.03
US4601461035	Sale	976	59.16
US4601461035	Sale	734	58.20
US4601461035	Sale	39	58.05
US4601461035	Sale	7	58.67
US4601461035	Sale	1	59.14
US4601461035	Sale	258	58.31
US4601461035	Sale	6,243	58.93
US4601461035	Sale	72	59.30
US4601461035	Sale	1,279	58.86
US4601461035	Sale	9	59.15
US4601461035	Sale	101	59.17
US4601461035	Sale	310	59.06
US4601461035	Sale	2,922	59.22
US4601461035	Sale	44	59.47
US4601461035	Sale	1,391	59.37
US4601461035	Sale	942	59.34
US4601461035	Sale	324	59.23
US4601461035	Sale	200	58.98
US4601461035	Sale	25	59.02
US4601461035	Sale	9,695	59.35
US4601461035	Sale	10	59.41
US4601461035	Sale	599	58.97
US4601461035	Sale	5,816	58.83
US4601461035	Sale	769	58.92
US4601461035	Sale	179	59.24
US4601461035	Sale	1,812	58.95
US4601461035	Sale	1,130	59.40
US4601461035	Sale	107	59.44
US4601461035	Sale	14,422	59.36
US4601461035	Sale	4	59.38
US4601461035	Sale	100	58.74
US4601461035	Sale	2	59.48
US4601461035	Purchase	400	59.31
US4601461035	Sale	521	59.31
US4601461035	Purchase	44	58.84
US4601461035	Purchase	872	58.94
US4601461035	Purchase	2	58.85
US4601461035	Purchase	113,869	59.18
US4601461035	Sale	17,782	59.18
US4601461035	Purchase	378	59.29
US4601461035	Purchase	31	58.75
US4601461035	Purchase	463	59.27
US4601461035	Sale	167	59.27
US4601461035	Purchase	379	59.33
US4601461035	Sale	112	59.33
US4601461035	Purchase	30	58.76
US4601461035	Purchase	2	58.34
US4601461035	Purchase	133	58.43
US4601461035	Sale	43	58.43
US4601461035	Purchase	37	59.16
US4601461035	Purchase	1,605	58.20
US4601461035	Sale	952	58.20
US4601461035	Purchase	62	58.05
US4601461035	Purchase	792	58.44
US4601461035	Purchase	150	58.67
US4601461035	Purchase	372	58.45
US4601461035	Purchase	220	59.14
US4601461035	Purchase	933	58.35
US4601461035	Purchase	15	58.16
US4601461035	Sale	231	59.42
US4601461035	Purchase	271	58.29
US4601461035	Purchase	71	58.17
US4601461035	Purchase	4	59.05
US4601461035	Purchase	310	58.36
US4601461035	Purchase	45	58.73
US4601461035	Purchase	746	58.51
US4601461035	Purchase	1,731	58.93
US4601461035	Purchase	2	59.30
US4601461035	Sale	41	59.30
US4601461035	Purchase	163	58.41
US4601461035	Purchase	69	58.14
US4601461035	Purchase	38	58.86
US4601461035	Sale	8	58.86
US4601461035	Purchase	1	59.15
US4601461035	Purchase	103	58.15
US4601461035	Purchase	213	58.23
US4601461035	Purchase	788	58.42
US4601461035	Purchase	466	59.17
US4601461035	Purchase	335	58.22
US4601461035	Purchase	1	57.99
US4601461035	Sale	3	57.99
US4601461035	Purchase	356	58.77
US4601461035	Purchase	5	59.22
US4601461035	Purchase	335	58.27
US4601461035	Sale	1,242	59.47
US4601461035	Purchase	192	58.00
US4601461035	Purchase	273	58.21
US4601461035	Sale	1	58.21
US4601461035	Purchase	378	58.62
US4601461035	Sale	101	59.37
US4601461035	Purchase	9	59.34
US4601461035	Sale	662	59.34
US4601461035	Sale	5	59.23
US4601461035	Purchase	832	58.39
US4601461035	Purchase	338	58.26
US4601461035	Sale	19	59.02
US4601461035	Purchase	15	59.35
US4601461035	Sale	44	59.35
US4601461035	Sale	725	59.41
US4601461035	Purchase	197	58.25
US4601461035	Purchase	268	58.19
US4601461035	Purchase	50	58.24
US4601461035	Sale	15	58.06
US4601461035	Purchase	377	59.28
US4601461035	Purchase	22	58.83
US4601461035	Purchase	706	58.92
US4601461035	Purchase	87	58.18
US4601461035	Purchase	69	58.95
US4601461035	Sale	216	59.40
US4601461035	Purchase	10	59.44
US4601461035	Sale	95	59.44
US4601461035	Purchase	119	59.36
US4601461035	Sale	58	59.36
US4601461035	Purchase	466	59.38
US4601461035	Sale	707	59.38
US4601461035	Purchase	462	58.28
US4601461035	Purchase	22	58.79
US4601461035	Purchase	104	58.32
US4601461035	Purchase	337	58.07
US4601461035	Sale	11	59.48
US4601461035	Purchase	24	59.01
US4601461035	Purchase	93	59.13
US4601461035	Purchase	33	58.49
US4601461035	Purchase	5	59.20
US4601461035	Purchase	1	58.65
US4601461035	Purchase	100	58.50
US4601461035	Purchase	89	58.80
US4601461035	Purchase	101	58.48
US4601461035	Purchase	35	58.04
US4601461035	Purchase	6	58.99
US4601461035	Purchase	200	58.37
US4601461035	Purchase	50	59.39
US4601461035	Purchase	2	58.53
US4601461035	Purchase	89	58.60
US4601461035	Purchase	207	59.26
US4601461035	Sale	172	59.26
US4601461035	Purchase	13	59.32
US4601461035	Sale	14	59.32
US4601461035	Purchase	2,553	58.68
US4601461035	Purchase	6	58.89
US4601461035	Purchase	28	58.10
US4601461035	Purchase	24	58.38
US4601461035	Purchase	32	58.12
US4601461035	Purchase	12	58.82
US4601461035	Purchase	204	59.49
US4601461035	Sale	190	59.49
US4601461035	Purchase	65	58.08
US4601461035	Purchase	62	58.71
US4601461035	Purchase	2	59.25
US4601461035	Sale	165	59.43
US4601461035	Sale	100	59.51
US4601461035	Purchase	4	59.45
US4601461035	Sale	808	59.45
US4601461035	Purchase	43	58.13
US4601461035	Purchase	9	59.07
US4601461035	Purchase	18	58.88
US4601461035	Sale	15	59.46
US4601461035	Sale	2,307	59.31
US4601461035	Purchase	334,470	59.18
US4601461035	Sale	10,982	59.18
US4601461035	Sale	5,800	59.08
US4601461035	Sale	1,794	59.29
US4601461035	Sale	3,388	58.75
US4601461035	Purchase	9,311	59.27
US4601461035	Sale	9,901	59.27
US4601461035	Sale	2,851	59.33
US4601461035	Sale	1,219	59.19
US4601461035	Sale	395	58.76
US4601461035	Sale	1,800	59.09
US4601461035	Sale	821	58.43
US4601461035	Sale	460	59.21
US4601461035	Sale	1,887	59.16
US4601461035	Purchase	826	58.20
US4601461035	Sale	27	58.20
US4601461035	Sale	55	58.11
US4601461035	Sale	695	59.42
US4601461035	Purchase	100	58.91
US4601461035	Sale	104	58.73
US4601461035	Sale	3,670	59.30
US4601461035	Sale	3	58.41
US4601461035	Sale	212	59.15
US4601461035	Sale	381	59.17
US4601461035	Sale	205	58.22
US4601461035	Sale	200	59.06
US4601461035	Sale	529	59.22
US4601461035	Sale	6,549	59.37
US4601461035	Sale	1,322	59.34
US4601461035	Sale	349	59.23
US4601461035	Sale	35	58.26
US4601461035	Sale	600	59.02
US4601461035	Sale	600	59.35
US4601461035	Sale	200	59.41
US4601461035	Sale	84	58.25
US4601461035	Sale	42	58.19
US4601461035	Sale	1,334	59.28
US4601461035	Sale	693	59.24
US4601461035	Sale	3,330	59.40
US4601461035	Sale	115	59.44
US4601461035	Sale	5,414	59.36
US4601461035	Sale	477	59.38
US4601461035	Sale	12	58.79
US4601461035	Sale	77	58.74
US4601461035	Sale	1,344	59.01
US4601461035	Sale	642	59.13
US4601461035	Sale	743	59.20
US4601461035	Sale	221	59.39
US4601461035	Purchase	28	59.26
US4601461035	Sale	6,982	59.26
US4601461035	Sale	10,647	59.32
US4601461035	Sale	1,723	58.68
US4601461035	Sale	24	59.49
US4601461035	Sale	2,301	59.25
US4601461035	Sale	255	59.43
US4601461035	Sale	124	59.45
US4601461035	Sale	1,799	59.07
US4601461035	Sale	1,919	58.88
US4601461035	Sale	6	59.46
US4601461035	Sale	1	58.46
US4601461035	Sale	1,100	59.11
US4601461035	Sale	2,022	59.12
US4601461035	Sale	100	58.69
US4601461035	Sale	5,173	58.81
US4601461035	Purchase	2,028	59.18
US4601461035	Sale	4,484	58.44
US4601461035	Sale	235	58.27
US4601461035	Sale	4,749	58.37
US4601461035	Purchase	535,038	59.18
US4601461035	Purchase	21,421	58.87
US4601461035	Purchase	402,665	59.18
US4601461035	Sale	37	59.31
US4601461035	Purchase	456	58.94
US4601461035	Sale	1,609	58.85
US4601461035	Purchase	1,519	59.18
US4601461035	Purchase	1,660	59.08
US4601461035	Purchase	38	59.29
US4601461035	Sale	38	59.29
US4601461035	Sale	86	58.75
US4601461035	Sale	114	59.27
US4601461035	Purchase	435	59.19
US4601461035	Sale	31	59.04
US4601461035	Sale	5	59.09
US4601461035	Purchase	38	59.21
US4601461035	Purchase	15	59.14
US4601461035	Sale	2,023	59.05
US4601461035	Sale	17	58.41

(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	Increasing a short position	1,285	46.20 GBP
US4601461035	Equity Swap	Reducing a long position	955	59.09 USD
US4601461035	Equity Swap	Reducing a long position	707	58.36 USD

(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 (USD)
US4601461035	Put Option	Purchasing	1,500	57.50	American	17/01/2025	1.45

(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:	22^nd November 2024
Contact name:	Stephen Glasper
Telephone number:	[phone]

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 [e-mail]. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on [phone].

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	300	40.00	American	17/01/2025
US4601461035	Put Option	Purchased	800	32.50	American	17/01/2025
US4601461035	Call Option	Purchased	12,200	45.00	American	17/01/2025
US4601461035	Put Option	Purchased	65,800	45.00	American	17/01/2025
US4601461035	Call Option	Purchased	100	47.50	American	16/01/2026
US4601461035	Put Option	Purchased	40,900	47.50	American	17/01/2025
US4601461035	Put Option	Purchased	1,000	50.00	American	17/01/2025
US4601461035	Put Option	Purchased	10,700	55.00	American	17/01/2025
US4601461035	Put Option	Purchased	9,300	57.50	American	17/01/2025

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 [phone].

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

Category Code: RET

Sequence Number: 1262649

Time of Receipt (offset from UTC): 20241122T160112+0000