Form 8.3 - International Paper Company

LONDON, April 23, 2024--(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		22nd April 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:		681,991		0.196%		1,107,011		0.319%
(2) Cash-settled derivatives:		1,207		0.000%		247,031		0.071%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		302,400		0.087%		279,500		0.080%
TOTAL:		985,598		0.284%		1,633,542		0.470%

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	2,684	34.75
US4601461035	Sale	1,720	34.75
US4601461035	Purchase	2,160	34.77
US4601461035	Sale	3,268	34.77
US4601461035	Purchase	362	34.71
US4601461035	Purchase	1,539	34.76
US4601461035	Sale	3,156	34.76
US4601461035	Purchase	2,880	34.74
US4601461035	Sale	709	34.74
US4601461035	Purchase	39	35.28
US4601461035	Sale	1,203	34.80
US4601461035	Sale	4,948	34.79
US4601461035	Purchase	360	34.65
US4601461035	Sale	1,094	34.77
US4601461035	Purchase	4,457	34.76
US4601461035	Sale	1	34.88
US4601461035	Sale	732	34.70
US4601461035	Sale	1,045	34.73
US4601461035	Sale	1	34.89
US4601461035	Sale	104	34.94
US4601461035	Sale	58	34.91
US4601461035	Sale	3	34.93
US4601461035	Sale	352	34.83
US4601461035	Sale	690	34.66
US4601461035	Sale	374	34.63
US4601461035	Sale	2	34.95
US4601461035	Sale	1	34.96
US4601461035	Purchase	97,302	34.76
US4601461035	Sale	10,125	34.76
US4601461035	Sale	208	34.75
US4601461035	Purchase	1	34.77
US4601461035	Sale	622	34.77
US4601461035	Purchase	418	35.30
US4601461035	Purchase	18	34.71
US4601461035	Purchase	19,111	34.76
US4601461035	Sale	1,222	34.76
US4601461035	Sale	32	34.88
US4601461035	Purchase	1	34.74
US4601461035	Sale	129	34.97
US4601461035	Sale	7,216	34.80
US4601461035	Purchase	3	34.70
US4601461035	Purchase	2	34.73
US4601461035	Sale	15	34.73
US4601461035	Sale	21	34.72
US4601461035	Purchase	8	34.79
US4601461035	Sale	11,606	34.79
US4601461035	Sale	127	34.92
US4601461035	Sale	1,231	34.84
US4601461035	Sale	27	34.86
US4601461035	Sale	1	35.02
US4601461035	Sale	10	34.85
US4601461035	Sale	11	34.87
US4601461035	Sale	12,165	34.81
US4601461035	Sale	273	34.69
US4601461035	Sale	1,279	34.82
US4601461035	Sale	2,177	34.78
US4601461035	Sale	6	34.98
US4601461035	Sale	621	34.89
US4601461035	Purchase	2	34.65
US4601461035	Sale	65	34.65
US4601461035	Sale	200	34.93
US4601461035	Sale	4,255	34.83
US4601461035	Sale	309	34.59
US4601461035	Sale	8	34.67
US4601461035	Sale	205	34.66
US4601461035	Sale	135	34.68
US4601461035	Sale	5	34.90
US4601461035	Sale	52	34.57
US4601461035	Sale	13	34.95
US4601461035	Sale	39	34.96
US4601461035	Sale	266	34.62
US4601461035	Sale	26	34.56
US4601461035	Purchase	2	34.75
US4601461035	Purchase	2	34.77
US4601461035	Purchase	60	34.71
US4601461035	Purchase	3,788	34.76
US4601461035	Purchase	308	34.88
US4601461035	Sale	2	34.80
US4601461035	Purchase	192	34.73
US4601461035	Sale	13	34.73
US4601461035	Purchase	5	34.79
US4601461035	Purchase	2	34.81
US4601461035	Sale	2	34.69
US4601461035	Sale	2	34.83
US4601461035	Purchase	1,049	34.75
US4601461035	Purchase	78	34.77
US4601461035	Sale	1,978	35.30
US4601461035	Purchase	439	34.71
US4601461035	Purchase	2,438	34.76
US4601461035	Purchase	316	34.88
US4601461035	Purchase	296	34.74
US4601461035	Sale	168	34.74
US4601461035	Purchase	1,368	34.80
US4601461035	Purchase	125	34.70
US4601461035	Sale	200	34.70
US4601461035	Purchase	653	34.73
US4601461035	Sale	9	34.73
US4601461035	Purchase	50	34.72
US4601461035	Purchase	2,829	34.79
US4601461035	Sale	113	34.79
US4601461035	Purchase	799	34.92
US4601461035	Sale	100	34.92
US4601461035	Purchase	940	34.84
US4601461035	Sale	345	34.86
US4601461035	Sale	200	35.02
US4601461035	Purchase	200	34.85
US4601461035	Purchase	700	34.87
US4601461035	Purchase	1,769	34.81
US4601461035	Purchase	6	34.69
US4601461035	Purchase	1,802	34.82
US4601461035	Sale	100	35.05
US4601461035	Purchase	2,069	34.78
US4601461035	Sale	100	34.78
US4601461035	Sale	100	34.98
US4601461035	Purchase	2,565	34.89
US4601461035	Sale	569	34.89
US4601461035	Purchase	175	34.94
US4601461035	Sale	1,678	34.94
US4601461035	Purchase	1,260	34.91
US4601461035	Purchase	567	34.65
US4601461035	Purchase	100	34.93
US4601461035	Sale	40	34.93
US4601461035	Purchase	852	34.83
US4601461035	Purchase	18	34.59
US4601461035	Purchase	118	34.66
US4601461035	Purchase	545	34.68
US4601461035	Purchase	14	34.99
US4601461035	Purchase	157	34.90
US4601461035	Purchase	20	34.60
US4601461035	Purchase	4	34.96
US4601461035	Purchase	100	35.00
US4601461035	Purchase	40	34.58
US4601461035	Purchase	120	34.62
US4601461035	Purchase	1,359	34.75
US4601461035	Sale	4,719	34.75
US4601461035	Purchase	2,159	34.77
US4601461035	Sale	3,022	34.77
US4601461035	Purchase	2,995	35.30
US4601461035	Sale	25	35.30
US4601461035	Purchase	2,728	34.71
US4601461035	Sale	162	34.71
US4601461035	Purchase	3,853	34.76
US4601461035	Sale	42,076	34.76
US4601461035	Purchase	3	34.88
US4601461035	Sale	72	34.88
US4601461035	Purchase	579	34.74
US4601461035	Sale	2,016	34.74
US4601461035	Purchase	122	34.97
US4601461035	Sale	5	34.97
US4601461035	Purchase	249	34.80
US4601461035	Sale	6	34.80
US4601461035	Purchase	2,003	34.70
US4601461035	Sale	74	34.70
US4601461035	Purchase	1,463	34.73
US4601461035	Sale	1,067	34.73
US4601461035	Purchase	419	34.72
US4601461035	Sale	531	34.72
US4601461035	Purchase	446	34.79
US4601461035	Sale	138	34.79
US4601461035	Purchase	1,942	34.92
US4601461035	Sale	42	34.92
US4601461035	Purchase	343	34.84
US4601461035	Sale	6	34.84
US4601461035	Sale	160	34.86
US4601461035	Purchase	1	35.02
US4601461035	Purchase	12	34.85
US4601461035	Sale	111	34.85
US4601461035	Purchase	44	34.87
US4601461035	Sale	42	34.87
US4601461035	Purchase	310	34.81
US4601461035	Sale	53	34.81
US4601461035	Purchase	30	35.13
US4601461035	Purchase	644	34.69
US4601461035	Sale	386	34.69
US4601461035	Purchase	73	34.82
US4601461035	Sale	107	34.82
US4601461035	Purchase	23	35.05
US4601461035	Purchase	1,050	34.78
US4601461035	Sale	913	34.78
US4601461035	Purchase	108	34.98
US4601461035	Purchase	1,415	34.89
US4601461035	Sale	16	34.89
US4601461035	Purchase	644	34.94
US4601461035	Sale	52	34.94
US4601461035	Purchase	56	34.91
US4601461035	Sale	53	34.91
US4601461035	Purchase	96	34.65
US4601461035	Sale	31	34.65
US4601461035	Purchase	2,194	34.93
US4601461035	Sale	30	34.93
US4601461035	Purchase	602	34.83
US4601461035	Sale	39	34.83
US4601461035	Purchase	134	34.67
US4601461035	Sale	51	34.67
US4601461035	Purchase	78	34.66
US4601461035	Sale	61	34.66
US4601461035	Purchase	554	34.68
US4601461035	Purchase	69	34.64
US4601461035	Sale	36	34.64
US4601461035	Purchase	6	34.99
US4601461035	Purchase	101	34.90
US4601461035	Sale	247	34.90
US4601461035	Purchase	100	34.57
US4601461035	Purchase	440	34.95
US4601461035	Sale	91	34.95
US4601461035	Purchase	12	34.96
US4601461035	Sale	12	34.96
US4601461035	Purchase	24	35.00
US4601461035	Sale	58	34.56
US4601461035	Purchase	116	35.01
US4601461035	Purchase	8,004	34.75
US4601461035	Sale	600	34.75
US4601461035	Purchase	7,120	34.77
US4601461035	Sale	1,947	34.77
US4601461035	Purchase	21	35.30
US4601461035	Purchase	3,294	34.71
US4601461035	Sale	2,154	34.71
US4601461035	Purchase	40,156	34.76
US4601461035	Sale	103,264	34.76
US4601461035	Purchase	714	34.88
US4601461035	Purchase	5,481	34.74
US4601461035	Sale	12,295	34.74
US4601461035	Sale	6	35.28
US4601461035	Purchase	388	34.97
US4601461035	Sale	17	34.97
US4601461035	Purchase	6,636	34.80
US4601461035	Sale	1,333	34.80
US4601461035	Purchase	49,044	34.70
US4601461035	Sale	2,400	34.70
US4601461035	Purchase	2,778	34.73
US4601461035	Sale	7,990	34.73
US4601461035	Purchase	100	34.72
US4601461035	Sale	6,217	34.72
US4601461035	Sale	274	35.29
US4601461035	Purchase	2,350	34.79
US4601461035	Sale	2,188	34.79
US4601461035	Purchase	2,361	34.92
US4601461035	Sale	1,907	34.92
US4601461035	Purchase	29	34.84
US4601461035	Sale	1,513	34.84
US4601461035	Purchase	6	34.86
US4601461035	Purchase	102	34.85
US4601461035	Purchase	200	34.87
US4601461035	Sale	384	34.87
US4601461035	Purchase	2,836	34.81
US4601461035	Sale	471	34.81
US4601461035	Sale	204	35.32
US4601461035	Purchase	11,911	34.69
US4601461035	Sale	5,145	34.69
US4601461035	Purchase	3,119	34.82
US4601461035	Purchase	4,932	34.78
US4601461035	Sale	5,222	34.78
US4601461035	Purchase	504	34.98
US4601461035	Sale	4	34.89
US4601461035	Purchase	2,590	34.94
US4601461035	Purchase	1,103	34.91
US4601461035	Sale	498	34.91
US4601461035	Purchase	2,117	34.65
US4601461035	Purchase	478	34.93
US4601461035	Sale	338	35.34
US4601461035	Purchase	1,681	34.83
US4601461035	Sale	300	34.83
US4601461035	Sale	100	35.17
US4601461035	Sale	500	35.03
US4601461035	Purchase	1,284	34.59
US4601461035	Purchase	7,317	34.67
US4601461035	Sale	2,741	34.67
US4601461035	Purchase	22,978	34.66
US4601461035	Sale	1,467	34.66
US4601461035	Purchase	19,972	34.68
US4601461035	Sale	2,776	34.68
US4601461035	Purchase	5,895	34.64
US4601461035	Sale	500	35.10
US4601461035	Purchase	2,601	34.90
US4601461035	Purchase	1,200	34.63
US4601461035	Purchase	2,204	34.95
US4601461035	Purchase	36	34.96
US4601461035	Sale	61	35.00
US4601461035	Purchase	100	34.58
US4601461035	Sale	2,644	34.50
US4601461035	Purchase	100	34.61
US4601461035	Sale	692	34.61
US4601461035	Sale	854	34.56
US4601461035	Purchase	445	34.81
US4601461035	Sale	4,700	34.76
US4601461035	Purchase	9	34.71
US4601461035	Purchase	39	34.76
US4601461035	Purchase	20	34.70
US4601461035	Purchase	14	34.73
US4601461035	Purchase	44	34.69
US4601461035	Purchase	5	34.65
US4601461035	Purchase	6	34.66
US4601461035	Purchase	7	34.68
US4601461035	Purchase	230	34.76
US4601461035	Sale	28	34.76
US4601461035	Purchase	600	34.76
US4601461035	Sale	8,070	34.76

(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 short position		126,963		28.20 GBP
US4601461035		Equity Swap		Reducing a long position		567		34.80 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
US4601461035	Call Option	Purchasing	25,000	35.00	American	5/17/2025
US4601461035	Put Option	Purchasing	26,700	34.00	American	5/17/2025

(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?

NO

Date of disclosure:		23rd April 2024
Contact name:		Stephen Glasper
Telephone number:		+44 203 398 2166

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 monitoring@disclosure.org.uk. 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.

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	100	35.00	American	1/17/2025
US4601461035	Call Option	Purchased	300	40.00	American	1/17/2025
US4601461035	Put Option	Purchased	800	32.50	American	1/17/2025
US4601461035	Call Option	Purchased	800	35.00	American	6/21/2024
US4601461035	Call Option	Purchased	250,000	40.00	American	10/18/2024
US4601461035	Call Option	Written	250,000	45.00	American	10/18/2024
US4601461035	Put Option	Purchased	1,200	45.00	American	7/19/2024
US4601461035	Put Option	Purchased	27,000	45.00	American	7/19/2024
US4601461035	Call Option	Purchased	25,000	45.00	American	5/17/2025
US4601461035	Put Option	Purchased	26,700	45.00	American	5/17/2025

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 +44 (0)20 7638 0129.

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20240423955598/en/

Contacts

Millennium Partners, L.P.