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	07^th January 2025
(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:	4,943,034	1.423%	2,434,732	0.701%
(2) Cash-settled derivatives:	14,752	0.004%	962,702	0.277%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	12,600	0.004%	165,800	0.048%
TOTAL:	4,970,386	1.431%	3,563,234	1.026%

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	Purchase	6	53.45
US4601461035	Purchase	400	53.55
US4601461035	Purchase	3,480	53.57
US4601461035	Purchase	5	53.42
US4601461035	Purchase	8,851	53.56
US4601461035	Purchase	29	53.38
US4601461035	Purchase	67	53.35
US4601461035	Purchase	4,970	53.58
US4601461035	Sale	100	53.50
US4601461035	Purchase	34,448	53.61
US4601461035	Sale	68	53.61
US4601461035	Sale	311	53.51
US4601461035	Sale	30	53.59
US4601461035	Sale	1,333	53.52
US4601461035	Sale	1,219	53.49
US4601461035	Sale	628	53.37
US4601461035	Sale	100	53.43
US4601461035	Sale	100	53.39
US4601461035	Sale	100	53.46
US4601461035	Sale	144	53.60
US4601461035	Sale	200	53.53
US4601461035	Sale	1,120	53.54
US4601461035	Sale	20	53.40
US4601461035	Sale	4,566	53.45
US4601461035	Sale	100	53.68
US4601461035	Sale	784	53.55
US4601461035	Sale	5,659	53.57
US4601461035	Sale	105	53.42
US4601461035	Sale	9,235	53.56
US4601461035	Sale	1,367	53.41
US4601461035	Sale	208	53.48
US4601461035	Sale	201	53.38
US4601461035	Sale	913	53.62
US4601461035	Sale	4,970	53.58
US4601461035	Sale	867	53.63
US4601461035	Sale	1,300	53.61
US4601461035	Purchase	10	53.51
US4601461035	Purchase	253	53.46
US4601461035	Purchase	11,938	53.33
US4601461035	Purchase	515	53.40
US4601461035	Purchase	5	53.45
US4601461035	Purchase	12,037	53.55
US4601461035	Sale	12,030	53.55
US4601461035	Purchase	423	53.57
US4601461035	Sale	435	53.57
US4601461035	Purchase	559	53.42
US4601461035	Purchase	2	53.56
US4601461035	Purchase	134	53.41
US4601461035	Purchase	8	53.44
US4601461035	Purchase	1	53.38
US4601461035	Purchase	1,825	53.61
US4601461035	Sale	34,448	53.61
US4601461035	Sale	13	53.59
US4601461035	Sale	4	53.60
US4601461035	Sale	1,773	53.57
US4601461035	Sale	1	53.38
US4601461035	Sale	464	53.50
US4601461035	Purchase	104,764	53.61
US4601461035	Sale	5,176	53.61
US4601461035	Sale	3,174	53.51
US4601461035	Sale	11,035	53.59
US4601461035	Sale	3,009	53.52
US4601461035	Sale	6,297	53.49
US4601461035	Sale	100	53.71
US4601461035	Sale	9	53.37
US4601461035	Sale	763	53.43
US4601461035	Sale	26	53.39
US4601461035	Sale	848	53.46
US4601461035	Sale	1,088	53.60
US4601461035	Sale	8,479	53.53
US4601461035	Sale	16,088	53.54
US4601461035	Sale	100	53.33
US4601461035	Sale	174	53.40
US4601461035	Sale	51	53.66
US4601461035	Sale	100	53.34
US4601461035	Sale	176	53.68
US4601461035	Sale	28,839	53.55
US4601461035	Sale	5,382	53.57
US4601461035	Sale	642	53.42
US4601461035	Sale	50	53.67
US4601461035	Sale	2,028	53.56
US4601461035	Sale	1,057	53.48
US4601461035	Sale	1,873	53.62
US4601461035	Sale	854	53.47
US4601461035	Sale	3,322	53.58
US4601461035	Sale	337	53.64
US4601461035	Sale	288	53.65
US4601461035	Sale	2,935	53.27
US4601461035	Purchase	105	53.50
US4601461035	Sale	1,536	53.50
US4601461035	Purchase	22,719	53.61
US4601461035	Sale	30,329	53.61
US4601461035	Purchase	161	53.51
US4601461035	Sale	1,842	53.51
US4601461035	Purchase	31	53.59
US4601461035	Sale	73	53.59
US4601461035	Purchase	120	53.52
US4601461035	Sale	588	53.52
US4601461035	Sale	885	53.49
US4601461035	Sale	90	53.73
US4601461035	Purchase	5	53.71
US4601461035	Purchase	100	53.37
US4601461035	Purchase	40	53.43
US4601461035	Sale	41	53.43
US4601461035	Purchase	68	53.39
US4601461035	Sale	131	53.39
US4601461035	Purchase	75	53.46
US4601461035	Sale	300	53.46
US4601461035	Purchase	659	53.60
US4601461035	Sale	624	53.60
US4601461035	Purchase	70	53.53
US4601461035	Sale	365	53.53
US4601461035	Purchase	471	53.54
US4601461035	Sale	737	53.54
US4601461035	Purchase	48	53.33
US4601461035	Purchase	6	53.40
US4601461035	Sale	11	53.40
US4601461035	Sale	12	53.66
US4601461035	Sale	95	53.34
US4601461035	Purchase	550	53.45
US4601461035	Sale	342	53.45
US4601461035	Sale	25	53.68
US4601461035	Purchase	246	53.55
US4601461035	Sale	492	53.55
US4601461035	Purchase	598	53.57
US4601461035	Sale	917	53.57
US4601461035	Sale	358	53.42
US4601461035	Purchase	3	53.56
US4601461035	Sale	364	53.56
US4601461035	Purchase	688	53.41
US4601461035	Sale	36	53.41
US4601461035	Purchase	6	53.44
US4601461035	Sale	221	53.44
US4601461035	Purchase	5	53.48
US4601461035	Sale	994	53.48
US4601461035	Sale	153	53.38
US4601461035	Purchase	12	53.35
US4601461035	Sale	36	53.35
US4601461035	Purchase	24	53.62
US4601461035	Sale	8	53.62
US4601461035	Sale	386	53.47
US4601461035	Purchase	10	53.23
US4601461035	Purchase	894	53.58
US4601461035	Sale	1,283	53.58
US4601461035	Purchase	10	53.64
US4601461035	Sale	10,784	53.64
US4601461035	Sale	26	53.65
US4601461035	Purchase	18	53.69
US4601461035	Purchase	106	53.36
US4601461035	Sale	224	53.72
US4601461035	Purchase	84	53.26
US4601461035	Purchase	100	53.28
US4601461035	Purchase	40	53.63
US4601461035	Sale	201	53.63
US4601461035	Purchase	102	53.24
US4601461035	Purchase	30	53.27
US4601461035	Purchase	15	53.32
US4601461035	Sale	41	53.32
US4601461035	Purchase	24	53.25
US4601461035	Purchase	14	53.22
US4601461035	Purchase	100	53.20
US4601461035	Sale	100	53.77
US4601461035	Purchase	91	53.18
US4601461035	Sale	623	53.50
US4601461035	Purchase	4,441	53.61
US4601461035	Purchase	662	53.51
US4601461035	Sale	2	53.51
US4601461035	Purchase	123	53.59
US4601461035	Sale	2	53.59
US4601461035	Sale	104	53.52
US4601461035	Sale	7	53.39
US4601461035	Sale	38	53.46
US4601461035	Purchase	741	53.60
US4601461035	Sale	2	53.60
US4601461035	Purchase	769	53.54
US4601461035	Sale	769	53.54
US4601461035	Sale	12,022	53.33
US4601461035	Sale	105	53.40
US4601461035	Purchase	585	53.66
US4601461035	Purchase	10,427	53.55
US4601461035	Sale	10,427	53.55
US4601461035	Purchase	4,158	53.57
US4601461035	Sale	2,235	53.57
US4601461035	Sale	13	53.42
US4601461035	Purchase	530	53.67
US4601461035	Sale	8	53.41
US4601461035	Purchase	7	53.48
US4601461035	Sale	866	53.48
US4601461035	Purchase	3,217	53.62
US4601461035	Sale	36	53.47
US4601461035	Purchase	666	53.58
US4601461035	Sale	787	53.58
US4601461035	Purchase	780	53.64
US4601461035	Purchase	640	53.65
US4601461035	Purchase	300	53.63
US4601461035	Purchase	200	53.61
US4601461035	Purchase	10,381	53.59
US4601461035	Purchase	200	53.52
US4601461035	Purchase	7,721	53.73
US4601461035	Purchase	2,605	53.60
US4601461035	Purchase	632	53.54
US4601461035	Purchase	3,400	53.66
US4601461035	Purchase	100	53.55
US4601461035	Purchase	569	53.67
US4601461035	Purchase	3,316	53.56
US4601461035	Purchase	1,073	53.58
US4601461035	Purchase	129	53.64
US4601461035	Purchase	968	53.65
US4601461035	Purchase	900	53.72
US4601461035	Purchase	27	53.63
US4601461035	Purchase	3,722	53.77
US4601461035	Purchase	3,656	53.76
US4601461035	Purchase	1,291	53.74
US4601461035	Purchase	100	53.78
US4601461035	Sale	374	53.61
US4601461035	Sale	104,764	53.61
US4601461035	Sale	44	53.50
US4601461035	Sale	1	53.51
US4601461035	Sale	20	53.59
US4601461035	Sale	4	53.46
US4601461035	Sale	30	53.45
US4601461035	Sale	2	53.56
US4601461035	Sale	4	53.44
US4601461035	Sale	4	53.58
US4601461035	Purchase	192	53.50
US4601461035	Purchase	10,056	53.61
US4601461035	Sale	2,752	53.61
US4601461035	Purchase	2,641	53.51
US4601461035	Purchase	3,499	53.59
US4601461035	Purchase	6,700	53.52
US4601461035	Purchase	2,071	53.39
US4601461035	Purchase	5,523	53.46
US4601461035	Purchase	284	53.60
US4601461035	Purchase	1,121	53.54
US4601461035	Purchase	98	53.45
US4601461035	Purchase	200	53.68
US4601461035	Purchase	3,463	53.57
US4601461035	Purchase	513	53.42
US4601461035	Purchase	100	53.67
US4601461035	Purchase	2,084	53.56
US4601461035	Purchase	23	53.44
US4601461035	Purchase	47	53.38
US4601461035	Purchase	1,768	53.62
US4601461035	Purchase	500	53.47
US4601461035	Purchase	517	53.64
US4601461035	Purchase	100	53.69
US4601461035	Purchase	116	53.63
US4601461035	Purchase	2,812	53.50
US4601461035	Sale	456	53.50
US4601461035	Sale	745	53.61
US4601461035	Sale	104	53.51
US4601461035	Sale	856	53.49
US4601461035	Purchase	744	53.60
US4601461035	Sale	61	53.53
US4601461035	Purchase	448	53.54
US4601461035	Sale	1,741	53.45
US4601461035	Purchase	83	53.55
US4601461035	Sale	353	53.55
US4601461035	Purchase	103	53.57
US4601461035	Sale	163	53.42
US4601461035	Sale	224	53.56
US4601461035	Sale	966	53.38
US4601461035	Sale	46	53.35
US4601461035	Purchase	31	53.62
US4601461035	Sale	190	53.62
US4601461035	Purchase	426	53.47
US4601461035	Purchase	936	53.58
US4601461035	Sale	124	53.64

(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	4,919	53.52 USD
US4601461035	Equity Swap	Increasing a long Position	865	53.54 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	1,000	52.50	American	17/04/2025	2.51

(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:	08^th January 2025
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	7,100	52.50	American	17/04/2025
US4601461035	Put Option	Purchased	1,900	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: 1273065

Time of Receipt (offset from UTC): 20250108T144951+0000