Form 8.3 - International Paper Company

LONDON, May 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 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:		2,322,132		0.669%		1,095,000		0.315%
(2) Cash-settled derivatives:		1,328		0.000%		814,272		0.234%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:		1,248,800		0.360%		462,800		0.133%
TOTAL:		3,572,260		1.029%		2,372,072		0.683%

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	60	41.18
US4601461035	Purchase	157	41.15
US4601461035	Purchase	347	41.16
US4601461035	Purchase	210	41.24
US4601461035	Purchase	78	41.25
US4601461035	Purchase	4,039	41.21
US4601461035	Purchase	5	41.29
US4601461035	Purchase	92	41.20
US4601461035	Purchase	117	41.26
US4601461035	Purchase	11	41.56
US4601461035	Purchase	1,684	41.78
US4601461035	Purchase	8	41.50
US4601461035	Purchase	16,183	42.10
US4601461035	Sale	21,700	42.10
US4601461035	Purchase	6	41.93
US4601461035	Purchase	9	41.99
US4601461035	Purchase	7	41.92
US4601461035	Purchase	1	42.13
US4601461035	Sale	597	41.18
US4601461035	Sale	125	41.14
US4601461035	Sale	75	41.11
US4601461035	Sale	411	41.16
US4601461035	Sale	750	41.17
US4601461035	Sale	100	41.12
US4601461035	Sale	72	41.98
US4601461035	Sale	600	41.13
US4601461035	Sale	805	41.25
US4601461035	Sale	100	41.22
US4601461035	Sale	300	41.28
US4601461035	Sale	300	41.23
US4601461035	Sale	26	41.27
US4601461035	Sale	750	41.21
US4601461035	Sale	1,800	41.07
US4601461035	Sale	300	41.09
US4601461035	Sale	362	41.86
US4601461035	Sale	6,294	41.30
US4601461035	Sale	5,179	41.29
US4601461035	Sale	452	41.20
US4601461035	Sale	100	41.19
US4601461035	Sale	787	41.32
US4601461035	Sale	3	41.52
US4601461035	Sale	782	41.53
US4601461035	Sale	100	41.76
US4601461035	Sale	1	41.70
US4601461035	Sale	596	41.48
US4601461035	Sale	794	41.65
US4601461035	Sale	1,160	41.68
US4601461035	Sale	401	41.79
US4601461035	Sale	528	41.56
US4601461035	Sale	300	41.63
US4601461035	Sale	1,708	41.82
US4601461035	Sale	779	41.67
US4601461035	Sale	2	41.72
US4601461035	Sale	2,577	41.81
US4601461035	Sale	1,746	41.59
US4601461035	Sale	200	41.64
US4601461035	Sale	600	41.41
US4601461035	Sale	201	41.69
US4601461035	Sale	729	41.40
US4601461035	Sale	831	41.66
US4601461035	Sale	400	41.80
US4601461035	Sale	10	41.87
US4601461035	Sale	72	42.02
US4601461035	Sale	638	42.01
US4601461035	Purchase	3,478	42.10
US4601461035	Sale	300	41.37
US4601461035	Sale	1,200	41.36
US4601461035	Sale	2,802	41.90
US4601461035	Sale	43	41.85
US4601461035	Sale	200	41.39
US4601461035	Sale	300	41.62
US4601461035	Sale	200	41.71
US4601461035	Sale	100	41.84
US4601461035	Sale	200	41.51
US4601461035	Sale	37	42.07
US4601461035	Sale	12	42.08
US4601461035	Sale	12	41.96
US4601461035	Sale	709	42.00
US4601461035	Sale	1,872	41.94
US4601461035	Sale	57	42.05
US4601461035	Sale	846	42.03
US4601461035	Sale	273	41.99
US4601461035	Sale	534	42.04
US4601461035	Sale	1	42.06
US4601461035	Sale	129	41.18
US4601461035	Sale	1,413	41.15
US4601461035	Sale	854	41.16
US4601461035	Sale	606	41.89
US4601461035	Sale	570	41.17
US4601461035	Sale	27	41.12
US4601461035	Sale	100	41.24
US4601461035	Sale	613	41.54
US4601461035	Purchase	586	41.00
US4601461035	Sale	1,017	41.13
US4601461035	Sale	100	41.27
US4601461035	Sale	951	41.21
US4601461035	Sale	100	41.29
US4601461035	Sale	1,130	41.20
US4601461035	Sale	5,528	41.97
US4601461035	Sale	125	41.19
US4601461035	Sale	713	41.32
US4601461035	Sale	1,937	41.52
US4601461035	Sale	3,104	41.53
US4601461035	Sale	501	41.74
US4601461035	Sale	100	41.83
US4601461035	Sale	3,345	41.45
US4601461035	Sale	114	41.70
US4601461035	Sale	922	41.48
US4601461035	Sale	644	41.46
US4601461035	Sale	2,037	41.43
US4601461035	Sale	374	41.79
US4601461035	Sale	4,900	41.82
US4601461035	Sale	655	41.67
US4601461035	Sale	98	41.72
US4601461035	Sale	5,692	41.59
US4601461035	Sale	12	41.33
US4601461035	Sale	369	41.64
US4601461035	Sale	1,908	41.40
US4601461035	Sale	303	41.44
US4601461035	Sale	6,932	41.87
US4601461035	Sale	498	42.02
US4601461035	Sale	296	42.01
US4601461035	Sale	24,112	42.10
US4601461035	Sale	3,480	41.37
US4601461035	Sale	2,448	41.42
US4601461035	Sale	959	41.90
US4601461035	Sale	782	41.93
US4601461035	Sale	4,581	41.51
US4601461035	Sale	3,300	41.55
US4601461035	Sale	106	42.08
US4601461035	Sale	26,080	41.96
US4601461035	Sale	17,974	42.00
US4601461035	Sale	732	42.05
US4601461035	Sale	14	42.03
US4601461035	Sale	3,105	41.99
US4601461035	Sale	104	42.06
US4601461035	Sale	2,775	41.92
US4601461035	Sale	7,811	41.91
US4601461035	Sale	700	41.60
US4601461035	Purchase	458	41.18
US4601461035	Purchase	217	41.14
US4601461035	Purchase	35	41.11
US4601461035	Purchase	162	41.15
US4601461035	Purchase	183	41.16
US4601461035	Purchase	1	41.89
US4601461035	Purchase	287	41.17
US4601461035	Purchase	289	41.12
US4601461035	Purchase	106	41.24
US4601461035	Purchase	2	41.98
US4601461035	Sale	1,230	41.98
US4601461035	Purchase	599	41.00
US4601461035	Purchase	100	41.13
US4601461035	Purchase	548	41.25
US4601461035	Sale	36	41.25
US4601461035	Purchase	48	41.22
US4601461035	Purchase	2,300	41.28
US4601461035	Purchase	1,921	41.23
US4601461035	Sale	194	41.23
US4601461035	Purchase	215	41.27
US4601461035	Purchase	2	41.21
US4601461035	Purchase	434	41.86
US4601461035	Sale	628	41.86
US4601461035	Purchase	516	41.30
US4601461035	Purchase	971	41.29
US4601461035	Purchase	47	41.20
US4601461035	Sale	73	41.97
US4601461035	Purchase	180	41.19
US4601461035	Sale	25	41.19
US4601461035	Purchase	33	41.26
US4601461035	Purchase	7	41.32
US4601461035	Purchase	1	41.38
US4601461035	Purchase	25	41.31
US4601461035	Purchase	3	41.52
US4601461035	Purchase	2	41.53
US4601461035	Sale	200	41.75
US4601461035	Sale	32	41.76
US4601461035	Purchase	1,280	41.74
US4601461035	Sale	72	41.74
US4601461035	Sale	118	41.77
US4601461035	Sale	423	41.73
US4601461035	Sale	202	41.83
US4601461035	Purchase	4	41.48
US4601461035	Purchase	31	41.68
US4601461035	Sale	332	41.68
US4601461035	Purchase	14	41.46
US4601461035	Sale	53	41.57
US4601461035	Purchase	10	41.43
US4601461035	Purchase	243	41.79
US4601461035	Sale	226	41.79
US4601461035	Purchase	2	41.82
US4601461035	Sale	3	41.67
US4601461035	Purchase	2	41.72
US4601461035	Sale	501	41.72
US4601461035	Sale	460	41.81
US4601461035	Purchase	5	41.59
US4601461035	Purchase	64	41.78
US4601461035	Sale	20	41.78
US4601461035	Purchase	165	41.33
US4601461035	Purchase	21	41.88
US4601461035	Sale	93	41.88
US4601461035	Sale	127	41.69
US4601461035	Sale	212	41.80
US4601461035	Sale	100	41.61
US4601461035	Purchase	146	41.87
US4601461035	Sale	1,300	41.87
US4601461035	Purchase	15	42.02
US4601461035	Sale	721	42.02
US4601461035	Purchase	6	42.01
US4601461035	Sale	242	42.01
US4601461035	Purchase	12,329	42.10
US4601461035	Sale	7,915	42.10
US4601461035	Purchase	5	41.37
US4601461035	Purchase	2	41.36
US4601461035	Sale	148	41.85
US4601461035	Purchase	6	41.35
US4601461035	Purchase	10	41.39
US4601461035	Purchase	154	41.71
US4601461035	Sale	824	41.93
US4601461035	Purchase	150	41.84
US4601461035	Sale	22	41.84
US4601461035	Purchase	1	41.55
US4601461035	Sale	54	42.08
US4601461035	Sale	3,691	42.00
US4601461035	Sale	186	41.94
US4601461035	Sale	89	42.05
US4601461035	Purchase	127	42.03
US4601461035	Sale	2,216	41.99
US4601461035	Sale	63	41.95
US4601461035	Sale	977	41.92
US4601461035	Sale	673	41.91
US4601461035	Sale	30	42.09
US4601461035	Sale	9,403	42.11
US4601461035	Purchase	500	41.18
US4601461035	Sale	60	41.18
US4601461035	Purchase	1,500	41.14
US4601461035	Purchase	300	41.11
US4601461035	Sale	2,400	41.11
US4601461035	Purchase	200	41.15
US4601461035	Sale	236	41.15
US4601461035	Purchase	100	41.16
US4601461035	Purchase	280	41.89
US4601461035	Purchase	300	41.17
US4601461035	Purchase	101	41.12
US4601461035	Sale	100	41.12
US4601461035	Sale	210	41.24
US4601461035	Purchase	10	41.98
US4601461035	Sale	57	41.00
US4601461035	Purchase	200	41.13
US4601461035	Sale	13	41.13
US4601461035	Sale	20	41.25
US4601461035	Purchase	10	41.28
US4601461035	Purchase	1	41.27
US4601461035	Sale	68	41.27
US4601461035	Purchase	2	41.21
US4601461035	Sale	100	41.21
US4601461035	Sale	100	41.03
US4601461035	Sale	33	41.10
US4601461035	Purchase	400	41.09
US4601461035	Sale	92	41.20
US4601461035	Purchase	79	41.97
US4601461035	Sale	33	41.26
US4601461035	Purchase	2	41.52
US4601461035	Sale	1,280	41.74
US4601461035	Purchase	7	41.77
US4601461035	Purchase	4	41.83
US4601461035	Purchase	74	41.46
US4601461035	Purchase	35	41.79
US4601461035	Purchase	7	41.63
US4601461035	Purchase	123	41.82
US4601461035	Purchase	1,210	41.67
US4601461035	Purchase	1	41.59
US4601461035	Purchase	1	41.78
US4601461035	Sale	1,684	41.78
US4601461035	Purchase	2	41.80
US4601461035	Purchase	767	41.87
US4601461035	Purchase	8,396	42.02
US4601461035	Purchase	10,610	42.01
US4601461035	Purchase	3,450	42.10
US4601461035	Purchase	1	41.36
US4601461035	Purchase	187	41.90
US4601461035	Purchase	175	41.85
US4601461035	Purchase	11,437	41.93
US4601461035	Purchase	108	41.84
US4601461035	Purchase	6,731	42.07
US4601461035	Purchase	4,257	42.08
US4601461035	Purchase	25	41.96
US4601461035	Purchase	1,902	42.00
US4601461035	Purchase	60	41.94
US4601461035	Purchase	5,269	42.05
US4601461035	Sale	200	42.05
US4601461035	Purchase	9,035	42.03
US4601461035	Purchase	299	41.99
US4601461035	Purchase	7,404	42.04
US4601461035	Purchase	252	42.06
US4601461035	Sale	100	42.13
US4601461035	Purchase	1,955	42.09
US4601461035	Sale	483	42.09
US4601461035	Purchase	228	42.12
US4601461035	Purchase	4,480	41.97
US4601461035	Sale	4,480	42.04
US4601461035	Sale	7	41.18
US4601461035	Sale	4	41.15
US4601461035	Sale	36	41.16
US4601461035	Sale	53	41.17
US4601461035	Sale	7	41.24
US4601461035	Sale	38	41.22
US4601461035	Sale	120	41.21
US4601461035	Sale	62	41.20
US4601461035	Sale	79	41.19
US4601461035	Purchase	2,937	41.16
US4601461035	Purchase	1,450	41.17
US4601461035	Purchase	800	41.12
US4601461035	Purchase	4,429	41.24
US4601461035	Purchase	8,518	41.13
US4601461035	Purchase	8,114	41.25
US4601461035	Purchase	472	41.27
US4601461035	Purchase	19,025	41.21
US4601461035	Purchase	8,201	41.10
US4601461035	Purchase	5,561	41.07
US4601461035	Purchase	275	41.09
US4601461035	Purchase	2,700	41.30
US4601461035	Purchase	296	41.29
US4601461035	Purchase	1,003	41.19
US4601461035	Purchase	100	41.06
US4601461035	Purchase	369	41.08
US4601461035	Sale	16,198	42.10
US4601461035	Purchase	45	41.24
US4601461035	Purchase	7,351	41.54
US4601461035	Sale	14	41.98
US4601461035	Purchase	1	41.22
US4601461035	Sale	40	41.28
US4601461035	Sale	120	41.86
US4601461035	Sale	36	41.97

(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 (USD)	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit
US4601461035	Call Option	Selling	160,000	40.00	American	7/19/2024
US4601461035	Call Option	Purchased	160,000	50.00	American	7/19/2024
US4601461035	Call Option	Purchased	160,000	42.50	American	9/20/2024
US4601461035	Call Option	Selling	160,000	50.00	American	9/20/2024
US4601461035	Call Option	Purchased	17,200	45.00	American	9/20/2024

(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?

YES

Date of disclosure:		23rd 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	Written	300,000	50.00	American	10/18/2024
US4601461035	Call Option	Purchased	439,800	42.50	American	6/21/2024
US4601461035	Call Option	Purchased	300,000	42.50	American	10/18/2024
US4601461035	Put Option	Written	125,000	37.50	American	6/21/2024
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	83,400	46.00	European	5/24/2024
US4601461035	Put Option	Written	83,400	46.00	European	5/24/2024
US4601461035	Call Option	Purchased	160,000	42.50	American	9/20/2024
US4601461035	Call Option	Written	160,000	50.00	American	9/20/2024
US4601461035	Call Option	Purchased	17,200	45.00	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/20240523422746/en/

Contacts

Millennium Partners, L.P.