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	23^rd December 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:	5,048,591	1.454%	2,169,463	0.625%
(2) Cash-settled derivatives:	2,983	0.001%	911,760	0.263%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	12,600	0.004%	156,800	0.045%
TOTAL:	5,064,174	1.458%	3,238,023	0.932%

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	1,819	54.49
US4601461035	Purchase	22	53.70
US4601461035	Purchase	101	53.64
US4601461035	Purchase	143	53.67
US4601461035	Purchase	1,553	54.05
US4601461035	Sale	39	53.60
US4601461035	Sale	100	53.65
US4601461035	Sale	300	54.22
US4601461035	Sale	4,132	53.69
US4601461035	Sale	1,500	53.66
US4601461035	Sale	600	54.24
US4601461035	Sale	120	54.25
US4601461035	Sale	1,100	54.27
US4601461035	Sale	1,580	54.31
US4601461035	Sale	100	54.43
US4601461035	Sale	2,741	54.29
US4601461035	Sale	118	54.41
US4601461035	Sale	61	53.58
US4601461035	Sale	600	54.30
US4601461035	Purchase	41,634	54.49
US4601461035	Sale	2,175	54.32
US4601461035	Sale	100	54.16
US4601461035	Sale	100	54.14
US4601461035	Sale	600	53.71
US4601461035	Sale	205	54.33
US4601461035	Sale	200	53.61
US4601461035	Sale	100	53.45
US4601461035	Sale	4,452	53.70
US4601461035	Sale	200	53.72
US4601461035	Sale	100	53.95
US4601461035	Sale	200	53.64
US4601461035	Sale	300	54.34
US4601461035	Sale	500	53.68
US4601461035	Sale	400	53.63
US4601461035	Sale	1,730	53.67
US4601461035	Sale	347	53.74
US4601461035	Sale	100	53.98
US4601461035	Sale	400	54.18
US4601461035	Sale	800	54.45
US4601461035	Sale	100	54.10
US4601461035	Sale	71	54.37
US4601461035	Sale	1,676	53.78
US4601461035	Sale	100	53.54
US4601461035	Sale	100	54.36
US4601461035	Sale	100	54.40
US4601461035	Sale	100	53.76
US4601461035	Sale	2,416	54.23
US4601461035	Sale	395	54.39
US4601461035	Sale	100	54.11
US4601461035	Sale	7,478	53.75
US4601461035	Sale	284	54.38
US4601461035	Sale	100	54.04
US4601461035	Sale	200	53.82
US4601461035	Sale	214	53.79
US4601461035	Sale	2,100	54.12
US4601461035	Sale	162,804	54.49
US4601461035	Purchase	107,950	54.49
US4601461035	Sale	235,562	54.49
US4601461035	Sale	100	53.60
US4601461035	Purchase	14,101	53.65
US4601461035	Purchase	1	53.69
US4601461035	Purchase	98	53.66
US4601461035	Purchase	1,077	53.51
US4601461035	Sale	400	54.09
US4601461035	Sale	200	54.24
US4601461035	Purchase	1,077	54.25
US4601461035	Sale	1,087	54.25
US4601461035	Sale	1,100	54.27
US4601461035	Sale	199	53.62
US4601461035	Sale	67	54.31
US4601461035	Sale	96	54.43
US4601461035	Sale	1,400	54.29
US4601461035	Sale	451	53.73
US4601461035	Sale	5,165	53.88
US4601461035	Sale	1,200	54.28
US4601461035	Sale	100	54.41
US4601461035	Sale	200	53.58
US4601461035	Sale	233	54.30
US4601461035	Sale	2,953	54.49
US4601461035	Sale	100	54.32
US4601461035	Purchase	12,888	54.16
US4601461035	Sale	12,888	54.16
US4601461035	Sale	26	54.44
US4601461035	Purchase	1,199	54.14
US4601461035	Sale	1,199	54.14
US4601461035	Sale	427	53.71
US4601461035	Sale	188	53.49
US4601461035	Sale	400	54.33
US4601461035	Sale	200	54.26
US4601461035	Sale	435	54.13
US4601461035	Sale	6	54.41
US4601461035	Purchase	40,954	54.49
US4601461035	Sale	41,634	54.49
US4601461035	Sale	4	53.44
US4601461035	Sale	1	53.43
US4601461035	Sale	85	54.37
US4601461035	Sale	20	53.54
US4601461035	Sale	20	54.42
US4601461035	Sale	101	54.39
US4601461035	Sale	661	54.22
US4601461035	Sale	1,617	53.66
US4601461035	Sale	120	54.24
US4601461035	Sale	3,154	54.27
US4601461035	Sale	1,968	53.62
US4601461035	Sale	401	54.31
US4601461035	Sale	247	54.43
US4601461035	Sale	180	54.29
US4601461035	Sale	3,191	53.73
US4601461035	Sale	599	53.88
US4601461035	Sale	100	54.41
US4601461035	Sale	497	53.58
US4601461035	Purchase	56,673	54.49
US4601461035	Sale	8,400	54.49
US4601461035	Sale	1,043	54.32
US4601461035	Sale	1,490	54.33
US4601461035	Sale	608	54.26
US4601461035	Sale	1,277	53.57
US4601461035	Sale	34	53.45
US4601461035	Sale	234	53.70
US4601461035	Sale	3,712	53.72
US4601461035	Sale	1,573	53.55
US4601461035	Sale	100	53.44
US4601461035	Purchase	2,177	54.34
US4601461035	Sale	4,612	54.34
US4601461035	Sale	763	53.63
US4601461035	Sale	37	53.40
US4601461035	Sale	129	54.05
US4601461035	Sale	254	53.74
US4601461035	Sale	228	54.07
US4601461035	Sale	300	54.48
US4601461035	Sale	700	54.18
US4601461035	Sale	148	54.45
US4601461035	Sale	121	53.43
US4601461035	Sale	260	53.86
US4601461035	Sale	200	53.47
US4601461035	Sale	5,764	54.37
US4601461035	Sale	1,329	53.77
US4601461035	Sale	500	53.42
US4601461035	Sale	224	53.78
US4601461035	Sale	954	53.80
US4601461035	Sale	100	54.42
US4601461035	Sale	3,876	54.36
US4601461035	Sale	3,794	54.35
US4601461035	Sale	100	53.85
US4601461035	Sale	100	54.40
US4601461035	Sale	622	53.76
US4601461035	Sale	403	54.23
US4601461035	Sale	900	54.39
US4601461035	Sale	838	54.38
US4601461035	Sale	388	54.46
US4601461035	Purchase	98	53.60
US4601461035	Purchase	194	53.65
US4601461035	Sale	30	54.22
US4601461035	Purchase	10	53.69
US4601461035	Purchase	20	53.51
US4601461035	Sale	100	54.09
US4601461035	Purchase	4	54.24
US4601461035	Sale	73	54.24
US4601461035	Purchase	5	54.25
US4601461035	Sale	346	54.25
US4601461035	Sale	455	54.27
US4601461035	Purchase	1,632	53.62
US4601461035	Sale	2	54.31
US4601461035	Sale	8	54.43
US4601461035	Purchase	64	54.29
US4601461035	Sale	212	54.29
US4601461035	Purchase	451	53.73
US4601461035	Sale	1,019	53.73
US4601461035	Purchase	5,165	53.88
US4601461035	Sale	32	53.88
US4601461035	Sale	323	54.28
US4601461035	Sale	101	54.41
US4601461035	Purchase	562	53.58
US4601461035	Sale	63	53.58
US4601461035	Purchase	16,978	54.49
US4601461035	Sale	17,500	54.49
US4601461035	Sale	169	54.32
US4601461035	Purchase	12	54.16
US4601461035	Sale	66	54.16
US4601461035	Sale	70	54.44
US4601461035	Sale	100	53.71
US4601461035	Purchase	188	53.49
US4601461035	Sale	38	54.33
US4601461035	Purchase	1,454	54.13
US4601461035	Sale	1,019	54.13
US4601461035	Purchase	2	53.48
US4601461035	Purchase	7	53.61
US4601461035	Purchase	595	53.57
US4601461035	Purchase	2	53.45
US4601461035	Purchase	4	53.70
US4601461035	Sale	38	53.70
US4601461035	Sale	109	53.38
US4601461035	Purchase	1,678	53.55
US4601461035	Sale	117	53.93
US4601461035	Purchase	2	53.44
US4601461035	Purchase	183	53.89
US4601461035	Sale	82	53.89
US4601461035	Purchase	559	53.52
US4601461035	Sale	201	54.34
US4601461035	Purchase	871	53.68
US4601461035	Purchase	52	53.63
US4601461035	Sale	100	53.63
US4601461035	Purchase	200	53.94
US4601461035	Sale	158	53.94
US4601461035	Purchase	105	53.67
US4601461035	Purchase	219	53.56
US4601461035	Sale	358	54.00
US4601461035	Purchase	24	53.99
US4601461035	Sale	534	53.99
US4601461035	Sale	115	53.74
US4601461035	Purchase	35	54.07
US4601461035	Sale	24	53.98
US4601461035	Sale	4,315	54.48
US4601461035	Purchase	100	54.03
US4601461035	Sale	4	54.18
US4601461035	Sale	1	54.10
US4601461035	Purchase	22	54.19
US4601461035	Purchase	200	53.53
US4601461035	Purchase	1	53.43
US4601461035	Sale	50	54.20
US4601461035	Sale	104	54.37
US4601461035	Purchase	12	53.92
US4601461035	Purchase	20	53.54
US4601461035	Sale	142	53.90
US4601461035	Purchase	200	54.35
US4601461035	Sale	1,065	54.35
US4601461035	Sale	18	53.85
US4601461035	Sale	1,458	54.40
US4601461035	Purchase	80	54.17
US4601461035	Sale	38	54.17
US4601461035	Purchase	95	53.76
US4601461035	Purchase	604	53.50
US4601461035	Sale	12	54.01
US4601461035	Sale	84	54.23
US4601461035	Purchase	28	53.59
US4601461035	Sale	132	54.11
US4601461035	Sale	82	53.91
US4601461035	Purchase	5	54.02
US4601461035	Sale	926	54.38
US4601461035	Purchase	8	53.97
US4601461035	Sale	389	53.60
US4601461035	Sale	16,747	53.65
US4601461035	Sale	2,549	54.22
US4601461035	Sale	1,075	53.69
US4601461035	Sale	10,152	53.66
US4601461035	Sale	600	53.51
US4601461035	Sale	300	54.09
US4601461035	Sale	3,052	54.24
US4601461035	Sale	5,274	54.25
US4601461035	Sale	2,630	54.27
US4601461035	Sale	1,065	53.62
US4601461035	Sale	7,433	54.31
US4601461035	Sale	261	54.43
US4601461035	Sale	3,901	54.29
US4601461035	Sale	668	53.73
US4601461035	Sale	4,425	53.88
US4601461035	Sale	5,277	54.28
US4601461035	Sale	914	54.41
US4601461035	Sale	1,901	53.58
US4601461035	Sale	4	54.30
US4601461035	Purchase	238,287	54.49
US4601461035	Sale	16,812	54.49
US4601461035	Sale	7,449	54.32
US4601461035	Purchase	13,068	54.16
US4601461035	Sale	13,068	54.16
US4601461035	Sale	705	54.44
US4601461035	Sale	300	54.14
US4601461035	Sale	2,346	53.71
US4601461035	Sale	400	53.49
US4601461035	Sale	596	54.33
US4601461035	Sale	746	54.26
US4601461035	Sale	331	53.48
US4601461035	Sale	133	53.61
US4601461035	Sale	370	53.57
US4601461035	Sale	200	53.39
US4601461035	Sale	301	53.45
US4601461035	Sale	20	53.70
US4601461035	Sale	1,300	53.72
US4601461035	Sale	1,526	53.95
US4601461035	Sale	583	53.55
US4601461035	Sale	247	53.41
US4601461035	Sale	6,360	53.64
US4601461035	Sale	200	53.93
US4601461035	Sale	161	53.44
US4601461035	Sale	362	53.89
US4601461035	Sale	213	53.52
US4601461035	Sale	1,563	54.34
US4601461035	Sale	10,682	53.68
US4601461035	Sale	9,745	53.63
US4601461035	Sale	527	53.94
US4601461035	Sale	20	53.40
US4601461035	Sale	2,377	53.81
US4601461035	Sale	3,445	53.67
US4601461035	Sale	4,158	53.56
US4601461035	Sale	760	53.96
US4601461035	Sale	200	54.00
US4601461035	Sale	1,974	54.05
US4601461035	Sale	287	53.99
US4601461035	Sale	7,056	53.74
US4601461035	Sale	3,111	53.98
US4601461035	Sale	650	54.03
US4601461035	Purchase	26	54.18
US4601461035	Sale	200	54.18
US4601461035	Purchase	900	54.45
US4601461035	Sale	900	54.45
US4601461035	Sale	1,066	54.10
US4601461035	Sale	3,311	54.19
US4601461035	Sale	1,292	53.53
US4601461035	Sale	659	53.43
US4601461035	Sale	1,624	53.86
US4601461035	Sale	4,365	54.20
US4601461035	Sale	200	53.47
US4601461035	Sale	986	54.37
US4601461035	Sale	2,647	53.77
US4601461035	Sale	102	53.92
US4601461035	Sale	865	53.54
US4601461035	Sale	200	53.80
US4601461035	Sale	523	54.42
US4601461035	Sale	1,137	53.90
US4601461035	Sale	3,625	54.36
US4601461035	Sale	2,285	54.35
US4601461035	Sale	1,654	53.85
US4601461035	Sale	260	54.40
US4601461035	Sale	2,016	54.21
US4601461035	Sale	235	54.17
US4601461035	Sale	3,000	53.76
US4601461035	Sale	284	53.50
US4601461035	Sale	126	54.01
US4601461035	Sale	12,162	54.23
US4601461035	Sale	3,783	53.59
US4601461035	Purchase	900	54.39
US4601461035	Sale	8,045	54.39
US4601461035	Sale	402	53.91
US4601461035	Sale	100	53.84
US4601461035	Sale	1,000	53.75
US4601461035	Sale	1,677	54.38
US4601461035	Sale	429	54.46
US4601461035	Sale	167	54.04
US4601461035	Sale	936	53.97
US4601461035	Sale	19,240	53.79
US4601461035	Sale	995	53.83
US4601461035	Sale	40	53.37
US4601461035	Sale	462	53.46
US4601461035	Sale	104	54.08
US4601461035	Sale	120	53.87
US4601461035	Sale	2	54.06
US4601461035	Sale	54	54.47
US4601461035	Purchase	91	54.49
US4601461035	Purchase	800	54.45
US4601461035	Sale	2,100	54.49
US4601461035	Purchase	2,100	54.12
US4601461035	Sale	246	54.29
US4601461035	Sale	524	54.49
US4601461035	Purchase	82	53.68
US4601461035	Sale	5,781	54.07
US4601461035	Purchase	205	53.98
US4601461035	Sale	988	54.03
US4601461035	Purchase	38	54.36
US4601461035	Sale	78	54.35
US4601461035	Sale	114	53.85
US4601461035	Purchase	159	54.21
US4601461035	Sale	93	54.01
US4601461035	Sale	161	54.39
US4601461035	Sale	288	54.11
US4601461035	Purchase	76	53.84
US4601461035	Sale	2,269	54.15
US4601461035	Sale	111	54.47

(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 long Position	4,250	54.16 USD
US4601461035	Equity Swap	Reducing a long Position	1,076	54.16 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	1,400	52.50	American	21/02/2025	1.99

(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:	24^th December 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	21,200	57.50	American	17/01/2025
US4601461035	Put Option	Purchased	800	57.50	American	17/04/2025
US4601461035	Put Option	Purchased	2,900	56.00	American	24/01/2025
US4601461035	Put Option	Purchased	4,800	55.00	American	21/02/2025
US4601461035	Put Option	Purchased	7,900	52.50	American	21/02/2025

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: 1270483

Time of Receipt (offset from UTC): 20241224T131015+0000