Form 8.3 - International Paper Company

LONDON--()-- 

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:

Balyasny Asset 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

18/06/2024

(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:

 

DS Smith 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

ISIN: US4601461035

 

 

Interests

Short positions

 

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

4,607,240

1.33

445,196

0.13

(2) Cash-settled derivatives:

 

 

 

 

 

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

820,500

0.23

1,000,000

0.28

 

TOTAL:

5,427,740

1.56

1,445,196

0.41

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

$ Common Stock

Purchase

1,830

USD 45.48

$ Common Stock

Purchase

1,393

USD 45.51

$ Common Stock

Purchase

29

USD 45.52

$ Common Stock

Purchase

1,912

USD 45.52

$ Common Stock

Purchase

18,927

USD 45.58

$ Common Stock

Sale

400

USD 45.59

$ Common Stock

Sale

233

USD 45.60

$ Common Stock

Purchase

172

USD 45.69

$ Common Stock

Sale

1

USD 45.70

$ Common Stock

Sale

2,135

USD 45.70

$ Common Stock

Sale

202

USD 45.71

$ Common Stock

Purchase

1,882

USD 45.71

$ Common Stock

Purchase

3,400

USD 45.72

$ Common Stock

Purchase

5,443

USD 45.72

$ Common Stock

Purchase

27

USD 45.72

$ Common Stock

Sale

488

USD 45.73

$ Common Stock

Purchase

2,624

USD 45.73

$ Common Stock

Sale

448

USD 45.74

$ Common Stock

Sale

54

USD 45.79

$ Common Stock

Purchase

805

USD 45.83

$ Common Stock

Purchase

508

USD 45.85

$ Common Stock

Sale

269

USD 45.90

$ Common Stock

Purchase

8,000

USD 45.92

$ Common Stock

Sale

308

USD 45.94

$ Common Stock

Sale

100

USD 45.95

$ Common Stock

Purchase

104

USD 45.96

$ Common Stock

Purchase

80

USD 45.96

$ Common Stock

Sale

590

USD 45.97

$ Common Stock

Purchase

82

USD 45.98

$ Common Stock

Purchase

19

USD 45.99

$ Common Stock

Purchase

50

USD 46.02

$ Common Stock

Sale

518

USD 46.06

$ Common Stock

Purchase

606

USD 46.11

$ Common Stock

Sale

93

USD 46.16

$ Common Stock

Purchase

94,409

USD 46.17

$ Common Stock

Purchase

1,100

USD 46.17

$ Common Stock

Sale

259

USD 46.17

$ Common Stock

Purchase

876

USD 46.18

$ Common Stock

Purchase

6,404

USD 46.18

$ Common Stock

Purchase

6,834

USD 46.19

$ Common Stock

Sale

1,100

USD 46.19

$ Common Stock

Purchase

32,254

USD 46.19

$ Common Stock

Purchase

4,639

USD 46.20

$ Common Stock

Sale

18,658

USD 46.21

$ Common Stock

Purchase

6,501

USD 46.21

$ Common Stock

Purchase

23

USD 46.21

$ Common Stock

Purchase

47

USD 46.21

$ Common Stock

Sale

1,835

USD 46.21

$ Common Stock

Sale

13,301

USD 46.21

$ Common Stock

Purchase

1,968

USD 46.21

$ Common Stock

Purchase

13,500

USD 46.21

$ Common Stock

Sale

1,145

USD 46.21

$ Common Stock

Sale

5,360

USD 46.22

$ Common Stock

Purchase

7,435

USD 46.22

$ Common Stock

Purchase

209

USD 46.23

$ Common Stock

Sale

25

USD 46.23

$ Common Stock

Purchase

647

USD 46.24

$ Common Stock

Purchase

600

USD 46.24

$ Common Stock

Sale

31

USD 46.24

$ Common Stock

Sale

51

USD 46.24

$ Common Stock

Purchase

172

USD 46.25

$ Common Stock

Purchase

38

USD 46.25

$ Common Stock

Purchase

27

USD 46.25

$ Common Stock

Purchase

206

USD 46.25

$ Common Stock

Sale

8,688

USD 46.26

$ Common Stock

Purchase

96

USD 46.27

$ Common Stock

Sale

79

USD 46.27

$ Common Stock

Purchase

126

USD 46.31

$ Common Stock

Purchase

8,783

USD 46.32

$ Common Stock

Purchase

462

USD 46.33

$ Common Stock

Sale

77

USD 46.34

(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

 

 

 

 

 

(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

Type

e.g. American, European etc.

Expiry date

Option money paid/ received per unit

$ Common Stock

Put option

Selling

350,000

USD 43

American

21/06/2024

USD 0.06

$ Common Stock

Put option

Purchasing

350,000

USD 42.50

American

19/07/2024

USD 0.94

$ Common Stock

Call option

Purchasing

125,000

USD 50

American

18/10/2024

USD 1.90

(ii) Exercise

Class of relevant security

Product description

e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

 

 

 

 

 

(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:

19/06/2024

Contact name:

Jack Satt

Telephone number*:

+44 208 164 3693

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

*If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

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 SALE ETC.

Note 5(i) on Rule 8 of the Takeover Code (the “Code”)

1. KEY INFORMATION

Full name of person making disclosure:

Balyasny Asset 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

Type

e.g. American, European etc.

Expiry date

$ common stock

Put Option

Written

99,200

USD 38

American

21/06/2024

$ common stock

Call Option

Purchased

180,000

USD 42.50

American

21/06/2024

$ common stock

Call Option

Purchased

116,300

USD 45

American

21/06/2024

$ common stock

Put Option

Purchased

350,000

USD 43

American

21/06/2024

$ common stock

Put Option

Purchased

350,000

USD 42.50

American

19/07/2024

$ common stock

Call Option

Purchased

425,000

USD 42.50

American

18/10/2024

$ common stock

Call Option

Written

300,000

USD 50

American

18/10/2024

3. AGREEMENTS TO PURCHASE OR SALE 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.

Category Code: RET
Sequence Number: 1237165
Time of Receipt (offset from UTC): 20240619T151119+0100

Contacts

Balyasny Asset Management LP

Contacts

Balyasny Asset Management LP