Form 8.3 - International Paper Company

LONDON, June 25, 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		24th June 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:		2,553,030		0.735%		2,012,453		0.579%
(2) Cash-settled derivatives:						204,926		0.059%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		322,200		0.093%		2,000		0.001%
TOTAL:		2,875,230		0.828%		2,219,379		0.639%

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	40	46.66
US4601461035	Purchase	2	46.81
US4601461035	Sale	360	47.14
US4601461035	Purchase	171	46.96
US4601461035	Sale	1,138	47.32
US4601461035	Sale	390	46.98
US4601461035	Purchase	440	46.94
US4601461035	Purchase	157	46.63
US4601461035	Purchase	2,607	46.80
US4601461035	Purchase	63	47.32
US4601461035	Sale	4	47.32
US4601461035	Purchase	321	46.89
US4601461035	Purchase	2	46.91
US4601461035	Purchase	4,087	46.90
US4601461035	Purchase	1,723	46.84
US4601461035	Purchase	1,403	47.00
US4601461035	Purchase	100	46.97
US4601461035	Purchase	800	46.78
US4601461035	Purchase	13,757	46.77
US4601461035	Purchase	2,200	46.94
US4601461035	Purchase	200	46.61
US4601461035	Purchase	600	46.71
US4601461035	Purchase	6,828	46.83
US4601461035	Purchase	400	46.99
US4601461035	Purchase	4,000	46.87
US4601461035	Sale	2	46.87
US4601461035	Purchase	500	46.82
US4601461035	Purchase	700	46.69
US4601461035	Purchase	11,500	46.86
US4601461035	Purchase	7,918	46.85
US4601461035	Purchase	500	46.74
US4601461035	Sale	2	46.74
US4601461035	Purchase	100	47.29
US4601461035	Sale	2	47.10
US4601461035	Purchase	3,700	47.26
US4601461035	Purchase	700	46.76
US4601461035	Sale	6	47.19
US4601461035	Sale	2	47.09
US4601461035	Purchase	889	47.27
US4601461035	Purchase	100	47.30
US4601461035	Sale	1	47.08
US4601461035	Purchase	6,500	47.18
US4601461035	Purchase	8,265	47.21
US4601461035	Purchase	3,926	47.28
US4601461035	Sale	258	47.01
US4601461035	Sale	100	47.02
US4601461035	Sale	6	46.96
US4601461035	Sale	99	46.88
US4601461035	Sale	4,961	47.32
US4601461035	Sale	2,292	46.84
US4601461035	Sale	2	46.97
US4601461035	Sale	100	46.92
US4601461035	Sale	10	46.73
US4601461035	Sale	100	46.79
US4601461035	Sale	6	46.71
US4601461035	Sale	506	46.83
US4601461035	Sale	103	47.07
US4601461035	Sale	90	46.72
US4601461035	Sale	35	46.82
US4601461035	Sale	7	46.93
US4601461035	Sale	100	46.70
US4601461035	Sale	200	46.74
US4601461035	Sale	160	47.10
US4601461035	Purchase	538	47.26
US4601461035	Sale	100	47.17
US4601461035	Sale	200	47.23
US4601461035	Purchase	589	47.01
US4601461035	Sale	401	47.01
US4601461035	Purchase	1	46.65
US4601461035	Sale	120	46.81
US4601461035	Sale	88	47.14
US4601461035	Sale	195	47.02
US4601461035	Purchase	62	46.80
US4601461035	Sale	139	46.80
US4601461035	Sale	59	46.96
US4601461035	Purchase	2,319	46.49
US4601461035	Purchase	183	46.88
US4601461035	Sale	1,206	46.88
US4601461035	Sale	1,222	47.32
US4601461035	Sale	1,283	46.89
US4601461035	Sale	256	46.91
US4601461035	Purchase	200	47.04
US4601461035	Sale	200	46.90
US4601461035	Purchase	1,007	47.00
US4601461035	Sale	598	47.00
US4601461035	Purchase	106	46.97
US4601461035	Sale	5	46.97
US4601461035	Sale	285	46.78
US4601461035	Sale	200	46.77
US4601461035	Purchase	195	46.73
US4601461035	Purchase	189	46.79
US4601461035	Sale	28	46.79
US4601461035	Sale	300	46.94
US4601461035	Purchase	1	47.03
US4601461035	Purchase	100	46.71
US4601461035	Purchase	416	46.68
US4601461035	Purchase	1,965	46.72
US4601461035	Sale	808	46.99
US4601461035	Purchase	259	46.82
US4601461035	Purchase	162	46.69
US4601461035	Sale	519	46.93
US4601461035	Purchase	519	46.70
US4601461035	Purchase	379	47.06
US4601461035	Purchase	307	47.11
US4601461035	Sale	100	46.86
US4601461035	Sale	100	46.85
US4601461035	Purchase	495	47.13
US4601461035	Purchase	587	46.74
US4601461035	Sale	18	47.26
US4601461035	Purchase	360	46.76
US4601461035	Purchase	108	47.09
US4601461035	Purchase	100	47.27
US4601461035	Purchase	300	47.30
US4601461035	Purchase	3	47.05
US4601461035	Sale	424	47.08
US4601461035	Sale	222	46.57
US4601461035	Sale	114	47.18
US4601461035	Sale	122	47.23
US4601461035	Purchase	144	47.20
US4601461035	Sale	477	47.01
US4601461035	Sale	72	46.67
US4601461035	Purchase	160	46.65
US4601461035	Purchase	22	46.66
US4601461035	Purchase	190	46.81
US4601461035	Sale	622	46.81
US4601461035	Sale	34	47.14
US4601461035	Sale	124	47.02
US4601461035	Purchase	73	46.64
US4601461035	Purchase	7	46.80
US4601461035	Sale	1	46.96
US4601461035	Purchase	106	46.49
US4601461035	Sale	750	46.49
US4601461035	Purchase	95	46.88
US4601461035	Sale	1,548	46.88
US4601461035	Purchase	5,090	47.32
US4601461035	Sale	9,815	47.32
US4601461035	Sale	4	46.98
US4601461035	Purchase	25	46.89
US4601461035	Sale	1,901	46.89
US4601461035	Sale	61	46.60
US4601461035	Sale	1,191	46.91
US4601461035	Sale	467	47.04
US4601461035	Purchase	7	46.90
US4601461035	Sale	196	46.84
US4601461035	Purchase	1	47.00
US4601461035	Sale	179	47.00
US4601461035	Sale	1,235	46.97
US4601461035	Sale	9	46.92
US4601461035	Sale	38	46.78
US4601461035	Purchase	4	46.62
US4601461035	Sale	32	46.62
US4601461035	Sale	158	46.73
US4601461035	Sale	14	46.94
US4601461035	Sale	62	47.03
US4601461035	Sale	1	46.71
US4601461035	Sale	90	46.83
US4601461035	Purchase	28	46.68
US4601461035	Sale	3	46.68
US4601461035	Purchase	5	47.12
US4601461035	Sale	63	47.12
US4601461035	Sale	803	47.07
US4601461035	Purchase	17	46.87
US4601461035	Sale	6,823	46.87
US4601461035	Sale	4	46.82
US4601461035	Sale	91	46.69
US4601461035	Purchase	3	46.93
US4601461035	Sale	7	46.93
US4601461035	Sale	12	46.70
US4601461035	Sale	300	47.11
US4601461035	Sale	1,248	46.86
US4601461035	Sale	7	46.85
US4601461035	Sale	613	47.13
US4601461035	Sale	910	47.29
US4601461035	Sale	51	47.10
US4601461035	Sale	36	47.26
US4601461035	Sale	335	47.17
US4601461035	Sale	61	47.19
US4601461035	Sale	893	47.09
US4601461035	Sale	86	47.25
US4601461035	Sale	395	47.22
US4601461035	Sale	81	46.95
US4601461035	Sale	66	47.27
US4601461035	Sale	1,305	47.30
US4601461035	Sale	79	47.05
US4601461035	Sale	491	47.08
US4601461035	Sale	1,102	47.15
US4601461035	Sale	3,485	47.31
US4601461035	Sale	100	47.38
US4601461035	Sale	112	47.35
US4601461035	Sale	20	47.18
US4601461035	Sale	89	47.23
US4601461035	Sale	1,573	47.20
US4601461035	Sale	59	47.34
US4601461035	Sale	100	47.28
US4601461035	Purchase	537	47.01
US4601461035	Sale	208	47.01
US4601461035	Purchase	604	46.67
US4601461035	Purchase	354	46.65
US4601461035	Purchase	2,800	46.63
US4601461035	Purchase	1,838	46.66
US4601461035	Purchase	990	46.81
US4601461035	Sale	1	47.14
US4601461035	Purchase	1,200	46.64
US4601461035	Purchase	1,050	46.80
US4601461035	Purchase	1,176	46.96
US4601461035	Sale	1,421	46.96
US4601461035	Purchase	288	46.49
US4601461035	Purchase	1,795	46.88
US4601461035	Sale	11,891	46.88
US4601461035	Purchase	304,800	47.32
US4601461035	Sale	371,719	47.32
US4601461035	Purchase	512	46.98
US4601461035	Sale	100	46.98
US4601461035	Purchase	50	46.89
US4601461035	Sale	1,865	46.89
US4601461035	Purchase	1,200	46.60
US4601461035	Purchase	1,097	46.91
US4601461035	Sale	998	46.91
US4601461035	Purchase	266	47.04
US4601461035	Sale	191	47.04
US4601461035	Purchase	699	46.52
US4601461035	Purchase	40	46.90
US4601461035	Purchase	1,803	46.84
US4601461035	Purchase	1,900	46.59
US4601461035	Purchase	76	47.00
US4601461035	Sale	69	47.00
US4601461035	Purchase	21	46.97
US4601461035	Purchase	1,376	46.92
US4601461035	Sale	1,300	46.92
US4601461035	Purchase	627	46.78
US4601461035	Purchase	500	46.58
US4601461035	Purchase	300	46.62
US4601461035	Purchase	2,689	46.77
US4601461035	Purchase	2,596	46.79
US4601461035	Sale	2,227	46.94
US4601461035	Purchase	300	46.61
US4601461035	Purchase	402	47.03
US4601461035	Purchase	801	46.44
US4601461035	Purchase	1,646	46.71
US4601461035	Purchase	1,849	46.83
US4601461035	Sale	300	46.83
US4601461035	Purchase	1,024	46.68
US4601461035	Sale	22	47.12
US4601461035	Purchase	100	47.07
US4601461035	Sale	4,265	47.07
US4601461035	Purchase	781	46.72
US4601461035	Purchase	36	46.99
US4601461035	Purchase	4,908	46.87
US4601461035	Purchase	2,457	46.82
US4601461035	Purchase	200	46.69
US4601461035	Purchase	12	46.93
US4601461035	Sale	1,137	46.93
US4601461035	Purchase	3,478	46.51
US4601461035	Sale	20	47.06
US4601461035	Sale	8	47.11
US4601461035	Purchase	112	46.85
US4601461035	Purchase	400	46.30
US4601461035	Purchase	1,430	46.75
US4601461035	Purchase	448	46.74
US4601461035	Sale	533	47.29
US4601461035	Sale	176	47.10
US4601461035	Sale	60	47.36
US4601461035	Sale	1,997	47.26
US4601461035	Purchase	404	46.76
US4601461035	Purchase	723	47.17
US4601461035	Sale	27	47.17
US4601461035	Sale	698	47.19
US4601461035	Purchase	1,015	47.25
US4601461035	Sale	135	47.25
US4601461035	Sale	35	47.22
US4601461035	Purchase	2,115	46.95
US4601461035	Sale	89	46.95
US4601461035	Purchase	500	47.30
US4601461035	Sale	502	47.30
US4601461035	Sale	258	47.31
US4601461035	Sale	60	47.23
US4601461035	Sale	186	47.34
US4601461035	Sale	2	47.16
US4601461035	Sale	533	47.21
US4601461035	Sale	15	47.37
US4601461035	Purchase	48	47.14
US4601461035	Purchase	187	47.02
US4601461035	Purchase	48	46.80
US4601461035	Purchase	432	46.88
US4601461035	Purchase	146	47.32
US4601461035	Purchase	240	46.78
US4601461035	Purchase	173	47.03
US4601461035	Purchase	96	46.71
US4601461035	Purchase	48	46.83
US4601461035	Purchase	114	47.06
US4601461035	Purchase	194	47.13
US4601461035	Purchase	4	47.05
US4601461035	Purchase	74	47.23
US4601461035	Purchase	48	47.24
US4601461035	Purchase	13	47.32
US4601461035	Sale	107	47.06
US4601461035	Sale	33	47.26
US4601461035	Sale	33	47.17
US4601461035	Sale	39	47.08
US4601461035	Sale	65	47.20
US4601461035	Purchase	63	47.32
US4601461035	Sale	63	47.32
US4601461035	Sale	304,800	47.32
US4601461035	Purchase	88,175	47.32

(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		275,000		37.30 GBP
US4601461035		Equity Swap		Closing a long position		328		47.01 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

(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:		25th June 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	Put Option	Purchased	1,200	35.00	American	7/19/2024
US4601461035	Call Option	Purchased	27,000	37.50	American	7/19/2024
US4601461035	Call Option	Purchased	160,000	42.50	American	9/20/2024
US4601461035	Call Option	Purchased	85,000	42.50	American	10/18/2024
US4601461035	Call Option	Purchased	12,200	45.00	American	1/17/2025
US4601461035	Call Option	Purchased	400	45.00	American	10/18/2024
US4601461035	Call Option	Purchased	17,200	45.00	American	9/20/2024
US4601461035	Call Option	Purchased	10,000	50.00	American	9/20/2024
US4601461035	Call Option	Purchased	10,000	47.50	American	9/20/2024

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/20240625167043/en/

Contacts

Millennium Partners, L.P.