Form 8.3 - International Paper Company

LONDON, May 10, 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		9th May 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:		1,059,969		0.305%		843,873		0.243%
(2) Cash-settled derivatives:		531		0.000%		460,075		0.132%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		958,000		0.276%		489,500		0.141%
TOTAL:		2,018,500		0.581%		1,793,448		0.516%

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	1,254	39.67
US4601461035	Purchase	164	39.53
US4601461035	Purchase	1,750	39.84
US4601461035	Sale	266	39.84
US4601461035	Sale	1,082	39.82
US4601461035	Purchase	200	39.80
US4601461035	Sale	3,652	39.70
US4601461035	Sale	924	39.51
US4601461035	Purchase	87	39.66
US4601461035	Sale	2,301	39.68
US4601461035	Sale	3,000	39.67
US4601461035	Sale	100	39.53
US4601461035	Purchase	20,452	39.84
US4601461035	Sale	2,315	39.84
US4601461035	Sale	6,010	39.82
US4601461035	Sale	300	39.35
US4601461035	Sale	3,565	39.57
US4601461035	Sale	470	39.80
US4601461035	Purchase	49	39.70
US4601461035	Sale	200	39.70
US4601461035	Sale	2,299	39.51
US4601461035	Sale	100	39.19
US4601461035	Sale	6,835	39.75
US4601461035	Sale	200	39.66
US4601461035	Sale	200	39.55
US4601461035	Sale	108	39.73
US4601461035	Sale	384	39.68
US4601461035	Sale	300	39.63
US4601461035	Sale	12,521	39.64
US4601461035	Sale	180	39.69
US4601461035	Sale	9,045	39.58
US4601461035	Sale	625	39.65
US4601461035	Sale	1,020	39.47
US4601461035	Sale	100	39.54
US4601461035	Sale	1,001	39.52
US4601461035	Sale	200	39.46
US4601461035	Sale	733	39.36
US4601461035	Sale	290	39.62
US4601461035	Sale	2,915	39.71
US4601461035	Sale	1,000	39.92
US4601461035	Sale	561	39.78
US4601461035	Sale	1,107	39.74
US4601461035	Sale	400	39.60
US4601461035	Sale	586	39.86
US4601461035	Sale	72	39.40
US4601461035	Sale	100	39.79
US4601461035	Sale	6,394	39.81
US4601461035	Sale	600	39.89
US4601461035	Sale	6,500	39.72
US4601461035	Sale	1,200	39.90
US4601461035	Sale	269	39.83
US4601461035	Sale	2,898	39.76
US4601461035	Sale	2,752	39.59
US4601461035	Sale	200	39.77
US4601461035	Sale	200	39.88
US4601461035	Sale	200	39.21
US4601461035	Sale	100	39.98
US4601461035	Sale	100	39.96
US4601461035	Sale	100	40.02
US4601461035	Sale	10	39.29
US4601461035	Sale	12,383	39.84
US4601461035	Purchase	10,357	39.82
US4601461035	Sale	4	39.66
US4601461035	Purchase	161	39.47
US4601461035	Sale	5	39.41
US4601461035	Purchase	812	39.85
US4601461035	Purchase	49	39.81
US4601461035	Sale	1	39.21
US4601461035	Purchase	6	39.94
US4601461035	Purchase	744	39.20
US4601461035	Sale	13	39.97
US4601461035	Purchase	10,000	39.84
US4601461035	Sale	7,694	39.84
US4601461035	Sale	1,852	39.82
US4601461035	Sale	9,014	39.57
US4601461035	Sale	698	39.80
US4601461035	Sale	1,473	39.70
US4601461035	Purchase	899	39.51
US4601461035	Sale	151	39.49
US4601461035	Purchase	210	39.48
US4601461035	Sale	6,990	39.75
US4601461035	Sale	3,922	39.66
US4601461035	Purchase	263	39.55
US4601461035	Purchase	257	39.73
US4601461035	Sale	866	39.73
US4601461035	Sale	300	39.68
US4601461035	Purchase	200	39.64
US4601461035	Sale	6,867	39.64
US4601461035	Sale	250	39.69
US4601461035	Sale	695	39.65
US4601461035	Purchase	130	39.56
US4601461035	Sale	268	39.56
US4601461035	Purchase	145	39.39
US4601461035	Sale	445	39.52
US4601461035	Sale	3	39.32
US4601461035	Purchase	200	39.46
US4601461035	Purchase	2,096	39.41
US4601461035	Purchase	100	39.62
US4601461035	Sale	2,484	39.62
US4601461035	Sale	1,328	39.71
US4601461035	Sale	1,098	39.87
US4601461035	Sale	821	39.78
US4601461035	Sale	1,764	39.74
US4601461035	Sale	657	39.86
US4601461035	Sale	455	39.85
US4601461035	Sale	263	39.91
US4601461035	Purchase	22	39.42
US4601461035	Sale	1,848	39.81
US4601461035	Sale	103	39.90
US4601461035	Purchase	423	39.43
US4601461035	Sale	3,275	39.83
US4601461035	Sale	1,741	39.76
US4601461035	Purchase	20	39.59
US4601461035	Sale	290	39.59
US4601461035	Purchase	266	39.94
US4601461035	Sale	1,274	39.94
US4601461035	Sale	100	40.03
US4601461035	Purchase	676	39.95
US4601461035	Sale	528	39.95
US4601461035	Purchase	195	39.67
US4601461035	Sale	357	39.67
US4601461035	Purchase	2,530	39.20
US4601461035	Purchase	38	39.97
US4601461035	Sale	836	39.97
US4601461035	Purchase	2,109	39.53
US4601461035	Sale	244	39.53
US4601461035	Purchase	72,439	39.84
US4601461035	Sale	20,435	39.84
US4601461035	Purchase	2,078	39.82
US4601461035	Sale	543	39.82
US4601461035	Purchase	74	39.57
US4601461035	Sale	81	39.57
US4601461035	Purchase	100	39.80
US4601461035	Sale	838	39.80
US4601461035	Purchase	398	39.70
US4601461035	Sale	357	39.70
US4601461035	Purchase	25	39.51
US4601461035	Sale	152	39.48
US4601461035	Purchase	99	39.50
US4601461035	Sale	13	39.50
US4601461035	Sale	26	39.44
US4601461035	Sale	1,579	39.75
US4601461035	Purchase	225	39.66
US4601461035	Sale	142	39.66
US4601461035	Purchase	46	39.34
US4601461035	Purchase	133	39.55
US4601461035	Purchase	1,526	39.73
US4601461035	Sale	1,232	39.73
US4601461035	Purchase	86	39.68
US4601461035	Sale	489	39.68
US4601461035	Purchase	188	39.63
US4601461035	Sale	44	39.63
US4601461035	Purchase	60	39.64
US4601461035	Sale	113	39.64
US4601461035	Purchase	422	39.61
US4601461035	Purchase	1	39.69
US4601461035	Sale	571	39.69
US4601461035	Purchase	353	39.58
US4601461035	Sale	181	39.58
US4601461035	Purchase	121	39.65
US4601461035	Sale	201	39.65
US4601461035	Purchase	11	39.26
US4601461035	Purchase	96	39.47
US4601461035	Sale	12	39.47
US4601461035	Purchase	32	39.54
US4601461035	Sale	156	39.54
US4601461035	Purchase	663	39.56
US4601461035	Sale	39	39.56
US4601461035	Purchase	171	39.52
US4601461035	Sale	190	39.52
US4601461035	Sale	18	39.27
US4601461035	Purchase	100	39.45
US4601461035	Purchase	5	39.41
US4601461035	Purchase	741	39.36
US4601461035	Purchase	13	39.62
US4601461035	Sale	301	39.62
US4601461035	Purchase	465	39.71
US4601461035	Sale	393	39.71
US4601461035	Sale	48	39.87
US4601461035	Sale	407	39.92
US4601461035	Purchase	104	39.78
US4601461035	Sale	1,291	39.78
US4601461035	Sale	328	39.74
US4601461035	Purchase	1,286	39.60
US4601461035	Sale	161	39.60
US4601461035	Purchase	3	39.86
US4601461035	Sale	285	39.86
US4601461035	Purchase	3	39.85
US4601461035	Sale	15,584	39.85
US4601461035	Sale	357	39.91
US4601461035	Sale	1,034	39.79
US4601461035	Sale	929	39.81
US4601461035	Sale	448	39.89
US4601461035	Purchase	938	39.72
US4601461035	Sale	666	39.72
US4601461035	Sale	481	39.90
US4601461035	Sale	30	39.31
US4601461035	Sale	475	39.43
US4601461035	Sale	825	39.83
US4601461035	Purchase	2,975	39.76
US4601461035	Sale	931	39.76
US4601461035	Purchase	641	39.59
US4601461035	Purchase	1,620	39.77
US4601461035	Sale	1,307	39.77
US4601461035	Purchase	1	39.88
US4601461035	Sale	93	39.88
US4601461035	Sale	710	39.93
US4601461035	Sale	400	40.01
US4601461035	Purchase	53	39.98
US4601461035	Sale	334	39.98
US4601461035	Sale	408	39.94
US4601461035	Sale	1,392	39.96
US4601461035	Purchase	24	39.99
US4601461035	Sale	158	39.99
US4601461035	Purchase	36	39.95
US4601461035	Sale	200	39.95
US4601461035	Purchase	5	40.00
US4601461035	Sale	100	40.00
US4601461035	Sale	245	40.02
US4601461035	Sale	5	40.04
US4601461035	Sale	4,893	39.67
US4601461035	Purchase	24,104	39.20
US4601461035	Sale	6	39.20
US4601461035	Purchase	9,763	39.29
US4601461035	Sale	101	39.29
US4601461035	Sale	12,643	39.97
US4601461035	Sale	1,994	39.53
US4601461035	Purchase	24,369	39.84
US4601461035	Sale	55,719	39.84
US4601461035	Sale	29,058	39.82
US4601461035	Purchase	14,897	39.35
US4601461035	Purchase	6	39.57
US4601461035	Purchase	5,269	39.80
US4601461035	Sale	21,832	39.80
US4601461035	Purchase	110	39.70
US4601461035	Sale	2,566	39.70
US4601461035	Sale	200	39.51
US4601461035	Purchase	990	39.19
US4601461035	Purchase	220	39.49
US4601461035	Purchase	569	39.48
US4601461035	Sale	427	39.48
US4601461035	Purchase	4,413	39.50
US4601461035	Sale	63	39.50
US4601461035	Purchase	2	39.30
US4601461035	Sale	100	39.30
US4601461035	Purchase	1,093	39.33
US4601461035	Purchase	700	39.44
US4601461035	Purchase	102	39.75
US4601461035	Sale	5,418	39.75
US4601461035	Sale	6,068	39.66
US4601461035	Purchase	3,349	39.34
US4601461035	Sale	52	39.55
US4601461035	Purchase	13	39.73
US4601461035	Sale	544	39.73
US4601461035	Sale	986	39.68
US4601461035	Sale	5	39.63
US4601461035	Sale	201	39.64
US4601461035	Purchase	92	39.61
US4601461035	Sale	100	39.61
US4601461035	Purchase	2	39.69
US4601461035	Sale	6,582	39.69
US4601461035	Purchase	2	39.58
US4601461035	Sale	705	39.65
US4601461035	Sale	757	39.47
US4601461035	Sale	300	39.54
US4601461035	Sale	122	39.56
US4601461035	Purchase	784	39.39
US4601461035	Purchase	1	39.52
US4601461035	Sale	24	39.52
US4601461035	Purchase	300	39.27
US4601461035	Purchase	323	39.32
US4601461035	Purchase	1,961	39.45
US4601461035	Purchase	4,731	39.36
US4601461035	Purchase	7	39.62
US4601461035	Sale	1,102	39.62
US4601461035	Sale	10,957	39.71
US4601461035	Sale	9,479	39.87
US4601461035	Sale	400	39.92
US4601461035	Purchase	600	39.78
US4601461035	Sale	44,136	39.78
US4601461035	Sale	10,525	39.74
US4601461035	Sale	17	39.24
US4601461035	Sale	3	39.60
US4601461035	Purchase	46	39.86
US4601461035	Sale	6,030	39.86
US4601461035	Sale	27,152	39.85
US4601461035	Sale	743	39.91
US4601461035	Purchase	231	39.37
US4601461035	Purchase	2,221	39.79
US4601461035	Sale	33,480	39.79
US4601461035	Purchase	6,944	39.81
US4601461035	Sale	88,140	39.81
US4601461035	Sale	200	39.89
US4601461035	Sale	205	39.72
US4601461035	Sale	15,614	39.90
US4601461035	Purchase	30	39.31
US4601461035	Sale	53,199	39.83
US4601461035	Purchase	28	39.76
US4601461035	Sale	17,699	39.76
US4601461035	Sale	19,855	39.77
US4601461035	Sale	820	39.88
US4601461035	Sale	47	39.93
US4601461035	Purchase	1	39.21
US4601461035	Purchase	1	40.01
US4601461035	Sale	2,343	40.01
US4601461035	Sale	3,770	39.98
US4601461035	Sale	206	39.94
US4601461035	Sale	210	40.03
US4601461035	Sale	551	39.96
US4601461035	Sale	1,936	39.99
US4601461035	Purchase	700	39.25
US4601461035	Sale	3,153	40.00
US4601461035	Sale	25,183	39.84
US4601461035	Sale	3,265	39.67
US4601461035	Sale	1,526	39.97
US4601461035	Sale	136	39.82
US4601461035	Sale	4,995	39.80
US4601461035	Sale	3,770	39.70
US4601461035	Purchase	2,200	39.44
US4601461035	Sale	76	39.75
US4601461035	Sale	37	39.66
US4601461035	Sale	93	39.73
US4601461035	Sale	778	39.68
US4601461035	Sale	23	39.64
US4601461035	Sale	1,323	39.69
US4601461035	Sale	56	39.58
US4601461035	Sale	20	39.65
US4601461035	Sale	53	39.54
US4601461035	Purchase	290	39.45
US4601461035	Purchase	4,774	39.71
US4601461035	Sale	309	39.71
US4601461035	Sale	10,143	39.87
US4601461035	Sale	100	39.92
US4601461035	Sale	88	39.78
US4601461035	Sale	2,200	39.74
US4601461035	Sale	11,803	39.86
US4601461035	Sale	2	39.85
US4601461035	Sale	1,036	39.91
US4601461035	Purchase	200	39.42
US4601461035	Sale	9,295	39.79
US4601461035	Sale	1,039	39.89
US4601461035	Sale	1,101	39.72
US4601461035	Sale	115	39.83
US4601461035	Sale	2,762	39.76
US4601461035	Sale	136	39.59
US4601461035	Sale	6,580	39.77
US4601461035	Sale	3,270	39.88
US4601461035	Sale	1,100	39.93
US4601461035	Sale	600	40.01
US4601461035	Sale	326	39.94
US4601461035	Sale	4,412	39.99
US4601461035	Sale	497	39.95
US4601461035	Sale	200	40.04
US4601461035	Purchase	252	39.84
US4601461035	Sale	252	39.84
US4601461035	Purchase	1,710	39.84
US4601461035	Sale	4,774	39.71
US4601461035	Sale	42,362	39.84
US4601461035	Sale	24,369	39.84

(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 short position		56,620		31.51 GBP
US4601461035		Equity Swap		Reducing a long position		236		39.57 USD
US4601461035		Equity Swap		Closing a short position		955		39.44 USD
US4601461035		Equity Swap		Closing a short position		82,705		31.66 GBP

(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	Selling	250,000	40.00	American	10/18/2024
US4601461035	Call Option	Purchasing	250,000	50.00	American	10/18/2024
US4601461035	Call Option	Purchasing	250,000	42.50	American	6/21/2024
US4601461035	Call Option	Purchasing	25,600	42.00	American	5/17/2024
US4601461035	Put Option	Selling	125,000	37.50	American	6/21/2024

(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:		10th May 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	800	35.00	American	6/21/2024
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	25,000	35.00	American	5/17/2024
US4601461035	Put Option	Purchased	26,700	34.00	American	5/18/2024
US4601461035	Call Option	Written	300,000	50.00	American	10/18/2024
US4601461035	Call Option	Purchased	5,200	40.00	American	5/10/2024
US4601461035	Call Option	Purchased	289,800	42.50	American	6/21/2024
US4601461035	Call Option	Purchased	160,000	40.00	American	7/19/2024
US4601461035	Call Option	Written	160,000	50.00	American	7/19/2024
US4601461035	Call Option	Purchased	300,000	42.50	American	10/18/2024
US4601461035	Call Option	Purchased	25,600	42.00	American	5/17/2024

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/20240510462811/en/

Contacts

Millennium Partners, L.P.