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	26^th 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:	5,047,289	1.453%	2,287,568	0.659%
(2) Cash-settled derivatives:	2,196	0.001%	911,760	0.263%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	12,600	0.004%	158,700	0.046%
TOTAL:	5,062,085	1.457%	3,358,028	0.967%

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	22,870	55.21
US4601461035	Purchase	179	54.98
US4601461035	Purchase	163	55.19
US4601461035	Purchase	1	55.20
US4601461035	Purchase	188	55.23
US4601461035	Purchase	111	55.29
US4601461035	Purchase	41	54.97
US4601461035	Purchase	655	55.27
US4601461035	Sale	2,439	55.21
US4601461035	Purchase	119	55.31
US4601461035	Purchase	24	55.26
US4601461035	Purchase	71	55.10
US4601461035	Purchase	1	55.28
US4601461035	Purchase	547	55.00
US4601461035	Purchase	339	54.96
US4601461035	Sale	322	55.11
US4601461035	Sale	208	54.98
US4601461035	Sale	300	55.06
US4601461035	Sale	200	55.04
US4601461035	Sale	721	55.25
US4601461035	Sale	1,714	55.19
US4601461035	Sale	355	55.16
US4601461035	Sale	354	55.32
US4601461035	Sale	42	55.05
US4601461035	Sale	478	55.20
US4601461035	Sale	160	55.23
US4601461035	Sale	299	55.24
US4601461035	Sale	50	55.29
US4601461035	Sale	200	54.92
US4601461035	Sale	700	54.97
US4601461035	Sale	596	55.27
US4601461035	Sale	157	55.17
US4601461035	Purchase	21,243	55.21
US4601461035	Sale	493	55.21
US4601461035	Sale	200	55.02
US4601461035	Sale	2,123	55.18
US4601461035	Sale	500	54.99
US4601461035	Sale	300	55.01
US4601461035	Sale	112	55.30
US4601461035	Sale	400	55.31
US4601461035	Sale	3,737	55.22
US4601461035	Sale	42	55.08
US4601461035	Sale	2,296	55.13
US4601461035	Sale	200	55.07
US4601461035	Sale	641	55.15
US4601461035	Sale	468	55.26
US4601461035	Sale	16	55.09
US4601461035	Sale	2,079	55.14
US4601461035	Sale	19	55.10
US4601461035	Sale	89	55.28
US4601461035	Sale	672	55.12
US4601461035	Sale	68,240	55.21
US4601461035	Purchase	12	55.04
US4601461035	Purchase	78	55.25
US4601461035	Purchase	2	55.19
US4601461035	Purchase	7,182	55.16
US4601461035	Purchase	200	55.23
US4601461035	Purchase	4,140	55.24
US4601461035	Purchase	106	55.29
US4601461035	Purchase	100	54.97
US4601461035	Purchase	21	55.27
US4601461035	Purchase	8,682	55.17
US4601461035	Sale	7,182	55.17
US4601461035	Purchase	6	55.30
US4601461035	Sale	6	55.25
US4601461035	Sale	1	55.19
US4601461035	Sale	141	55.16
US4601461035	Sale	101	55.20
US4601461035	Sale	20	55.27
US4601461035	Sale	3	55.17
US4601461035	Purchase	1,656	55.21
US4601461035	Sale	21,243	55.21
US4601461035	Sale	78	55.18
US4601461035	Sale	2	55.22
US4601461035	Sale	9	55.13
US4601461035	Sale	865	55.15
US4601461035	Sale	613	55.14
US4601461035	Sale	123	55.10
US4601461035	Sale	6	55.28
US4601461035	Sale	269	55.12
US4601461035	Sale	198	55.11
US4601461035	Sale	12	55.19
US4601461035	Sale	200	55.16
US4601461035	Sale	464	55.20
US4601461035	Sale	234	55.17
US4601461035	Purchase	2,439	55.21
US4601461035	Sale	1,598	55.21
US4601461035	Sale	9	55.08
US4601461035	Sale	600	55.13
US4601461035	Sale	2,743	55.15
US4601461035	Sale	2	55.09
US4601461035	Sale	1,482	55.14
US4601461035	Sale	2	55.12
US4601461035	Purchase	36	55.11
US4601461035	Sale	708	55.11
US4601461035	Purchase	28	54.98
US4601461035	Purchase	12	55.25
US4601461035	Sale	408	55.25
US4601461035	Purchase	1,706	55.19
US4601461035	Sale	414	55.19
US4601461035	Purchase	6	55.16
US4601461035	Sale	580	55.16
US4601461035	Sale	1	55.32
US4601461035	Purchase	18	55.05
US4601461035	Purchase	3	55.20
US4601461035	Sale	1,582	55.20
US4601461035	Purchase	31	55.23
US4601461035	Sale	400	55.23
US4601461035	Sale	99	55.24
US4601461035	Purchase	1	55.29
US4601461035	Sale	200	54.92
US4601461035	Purchase	29	55.27
US4601461035	Sale	217	55.27
US4601461035	Purchase	759	55.17
US4601461035	Sale	1,089	55.17
US4601461035	Purchase	1,135	55.21
US4601461035	Sale	16,293	55.21
US4601461035	Purchase	1,147	55.18
US4601461035	Sale	1,437	55.18
US4601461035	Sale	200	54.99
US4601461035	Purchase	8	55.30
US4601461035	Sale	12	55.30
US4601461035	Purchase	8	55.31
US4601461035	Sale	127	55.31
US4601461035	Purchase	2	55.22
US4601461035	Sale	767	55.22
US4601461035	Sale	1,135	55.13
US4601461035	Sale	7	55.07
US4601461035	Purchase	5	55.15
US4601461035	Sale	4,479	55.15
US4601461035	Purchase	10	55.26
US4601461035	Sale	5,044	55.26
US4601461035	Sale	1	55.09
US4601461035	Sale	6,189	55.14
US4601461035	Purchase	15	55.10
US4601461035	Sale	118	55.10
US4601461035	Sale	339	55.28
US4601461035	Sale	11	54.91
US4601461035	Sale	100	55.03
US4601461035	Sale	34	55.00
US4601461035	Sale	489	55.12
US4601461035	Sale	32	54.93
US4601461035	Sale	380	55.11
US4601461035	Sale	218	55.04
US4601461035	Sale	5	55.25
US4601461035	Purchase	24	55.19
US4601461035	Sale	573	55.19
US4601461035	Sale	9,968	55.16
US4601461035	Purchase	2	55.20
US4601461035	Sale	4	55.20
US4601461035	Purchase	5	55.23
US4601461035	Purchase	22	54.97
US4601461035	Purchase	1	55.27
US4601461035	Purchase	8,664	55.17
US4601461035	Sale	8,664	55.17
US4601461035	Purchase	94,395	55.21
US4601461035	Sale	11,206	55.21
US4601461035	Sale	376	55.18
US4601461035	Purchase	2	55.30
US4601461035	Purchase	33	55.31
US4601461035	Sale	51	55.22
US4601461035	Sale	100	55.08
US4601461035	Sale	1,535	55.13
US4601461035	Purchase	2	55.07
US4601461035	Sale	200	55.15
US4601461035	Sale	396	55.26
US4601461035	Sale	400	55.09
US4601461035	Sale	3,647	55.14
US4601461035	Purchase	11	55.10
US4601461035	Sale	471	55.10
US4601461035	Purchase	4	55.28
US4601461035	Sale	200	55.12
US4601461035	Purchase	500	55.25
US4601461035	Purchase	200	55.19
US4601461035	Purchase	100	55.20
US4601461035	Purchase	200	55.23
US4601461035	Purchase	498	55.24
US4601461035	Purchase	6,315	55.29
US4601461035	Purchase	1,429	55.27
US4601461035	Purchase	200	55.21
US4601461035	Sale	684	55.21
US4601461035	Purchase	600	55.18
US4601461035	Purchase	225	55.30
US4601461035	Purchase	267	55.31
US4601461035	Purchase	400	55.22
US4601461035	Purchase	426	55.08
US4601461035	Purchase	427	55.26
US4601461035	Purchase	700	55.14
US4601461035	Purchase	100	55.10
US4601461035	Purchase	818	55.28
US4601461035	Purchase	274	55.03
US4601461035	Sale	2,806	55.21
US4601461035	Purchase	126	55.21
US4601461035	Purchase	684	55.21
US4601461035	Sale	7	55.11
US4601461035	Purchase	4	55.19
US4601461035	Purchase	209	55.16
US4601461035	Sale	76	55.16
US4601461035	Purchase	344	55.17
US4601461035	Purchase	1,384	55.18
US4601461035	Sale	1,068	55.18
US4601461035	Sale	305	55.22
US4601461035	Sale	1	55.08
US4601461035	Purchase	38	55.13
US4601461035	Sale	2	55.13
US4601461035	Purchase	161	55.15
US4601461035	Sale	152	55.15
US4601461035	Purchase	38	55.00

(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 long position	269	55.14 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	900	55.00	American	21/02/2025	3.22

(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:	27^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
US4601461035	Put Option	Purchased	1,000	52.50	American	17/04/2025
US4601461035	Put Option	Purchased	900	55.00	American	17/04/2025

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: 1270420

Time of Receipt (offset from UTC): 20241227T130400+0000