Form 8.3 - International Paper Company

LONDON--(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	13^th 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:	700,142	0.202%	805,985	0.232%
(2) Cash-settled derivatives:	1,328	0.000%	778,603	0.224%
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:	1,202,800	0.346%	489,500	0.141%
TOTAL:	1,904,270	0.548%	2,074,088	0.597%

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	12	39.52
US4601461035	Sale	6	38.83
US4601461035	Sale	6	38.65
US4601461035	Purchase	42	39.52
US4601461035	Sale	42	39.52
US4601461035	Sale	17	39.52
US4601461035	Purchase	6	38.84
US4601461035	Purchase	6	38.86
US4601461035	Purchase	57	39.31
US4601461035	Purchase	3,702	39.29
US4601461035	Purchase	4,202	39.52
US4601461035	Sale	13,582	39.52
US4601461035	Purchase	6,647	39.44
US4601461035	Sale	3	38.89
US4601461035	Sale	6	38.96
US4601461035	Sale	6	39.00
US4601461035	Purchase	1	39.17
US4601461035	Purchase	100	39.25
US4601461035	Purchase	113	39.20
US4601461035	Purchase	3,767	39.31
US4601461035	Purchase	418	39.33
US4601461035	Purchase	2	39.30
US4601461035	Purchase	22	39.29
US4601461035	Purchase	124	39.32
US4601461035	Purchase	596	39.34
US4601461035	Purchase	209	39.46
US4601461035	Purchase	87	39.26
US4601461035	Purchase	1	39.24
US4601461035	Sale	900	38.80
US4601461035	Purchase	39	38.78
US4601461035	Sale	589	38.78
US4601461035	Purchase	2,647	38.58
US4601461035	Sale	202	39.45
US4601461035	Sale	2	38.85
US4601461035	Sale	600	38.79
US4601461035	Sale	1	39.23
US4601461035	Purchase	2,921	39.52
US4601461035	Purchase	665	38.95
US4601461035	Sale	464	39.44
US4601461035	Sale	819	38.82
US4601461035	Sale	400	38.81
US4601461035	Purchase	430	38.90
US4601461035	Purchase	188	38.92
US4601461035	Purchase	600	38.93
US4601461035	Purchase	241	38.89
US4601461035	Purchase	973	38.94
US4601461035	Purchase	2,053	38.96
US4601461035	Purchase	100	39.03
US4601461035	Purchase	100	38.99
US4601461035	Purchase	13,124	38.98
US4601461035	Purchase	2,464	38.97
US4601461035	Purchase	194	39.00
US4601461035	Sale	200	39.00
US4601461035	Purchase	2,393	39.02
US4601461035	Purchase	200	39.06
US4601461035	Purchase	50	39.05
US4601461035	Purchase	149	39.04
US4601461035	Purchase	400	39.08
US4601461035	Sale	366	39.08
US4601461035	Purchase	104	39.09
US4601461035	Sale	100	39.16
US4601461035	Sale	1	39.25
US4601461035	Sale	300	39.31
US4601461035	Sale	4,295	39.36
US4601461035	Sale	2,311	39.33
US4601461035	Sale	18	39.30
US4601461035	Sale	2,505	39.32
US4601461035	Sale	1,025	39.40
US4601461035	Sale	846	39.42
US4601461035	Sale	718	39.43
US4601461035	Sale	2,158	39.35
US4601461035	Sale	406	39.34
US4601461035	Sale	159	39.46
US4601461035	Sale	3,049	39.37
US4601461035	Sale	3,498	39.38
US4601461035	Sale	344	39.21
US4601461035	Sale	2,810	39.39
US4601461035	Sale	139	39.26
US4601461035	Sale	2,657	39.41
US4601461035	Purchase	20	38.76
US4601461035	Purchase	575	38.58
US4601461035	Sale	2,168	38.58
US4601461035	Sale	4	38.85
US4601461035	Sale	6	39.13
US4601461035	Purchase	100	38.79
US4601461035	Purchase	17,151	39.52
US4601461035	Sale	11,079	39.52
US4601461035	Purchase	113	38.95
US4601461035	Sale	3	38.95
US4601461035	Purchase	537	39.07
US4601461035	Sale	5	39.07
US4601461035	Purchase	16	38.84
US4601461035	Purchase	32	38.86
US4601461035	Purchase	123	38.92
US4601461035	Sale	32	38.92
US4601461035	Purchase	157	38.91
US4601461035	Purchase	347	38.93
US4601461035	Sale	41	38.93
US4601461035	Purchase	27	38.63
US4601461035	Purchase	204	38.94
US4601461035	Sale	5	38.94
US4601461035	Purchase	222	38.96
US4601461035	Sale	117	38.96
US4601461035	Purchase	5	39.03
US4601461035	Purchase	93	38.99
US4601461035	Sale	104	38.99
US4601461035	Purchase	437	38.98
US4601461035	Purchase	285	38.97
US4601461035	Sale	7	38.97
US4601461035	Sale	2	39.00
US4601461035	Sale	273	39.01
US4601461035	Purchase	244	39.06
US4601461035	Purchase	34	39.05
US4601461035	Purchase	392	39.08
US4601461035	Sale	1	39.08
US4601461035	Purchase	1	39.09
US4601461035	Sale	2	39.09
US4601461035	Sale	447	39.16
US4601461035	Purchase	13	39.17
US4601461035	Purchase	3	39.25
US4601461035	Purchase	273	39.10
US4601461035	Sale	91	39.15
US4601461035	Purchase	230	39.12
US4601461035	Sale	11	39.27
US4601461035	Purchase	256	39.31
US4601461035	Sale	72	39.31
US4601461035	Purchase	24	39.36
US4601461035	Purchase	338	39.33
US4601461035	Sale	202	39.33
US4601461035	Purchase	337	39.30
US4601461035	Sale	50	39.30
US4601461035	Sale	191	39.29
US4601461035	Purchase	81	39.32
US4601461035	Sale	324	39.32
US4601461035	Sale	1,294	39.40
US4601461035	Sale	14	39.42
US4601461035	Sale	199	39.43
US4601461035	Purchase	173	39.35
US4601461035	Sale	1,732	39.35
US4601461035	Purchase	423	39.34
US4601461035	Sale	1,164	39.34
US4601461035	Sale	2,021	39.51
US4601461035	Sale	221	39.46
US4601461035	Sale	7	39.18
US4601461035	Purchase	10	39.38
US4601461035	Sale	695	39.38
US4601461035	Sale	690	39.39
US4601461035	Sale	16	39.41
US4601461035	Purchase	14	39.53
US4601461035	Sale	21,469	38.80
US4601461035	Sale	9,103	38.76
US4601461035	Sale	9,608	38.78
US4601461035	Sale	4,786	38.77
US4601461035	Purchase	416	38.58
US4601461035	Sale	4,230	38.75
US4601461035	Sale	4,159	38.85
US4601461035	Purchase	711	39.13
US4601461035	Purchase	217	38.79
US4601461035	Sale	21,788	38.79
US4601461035	Purchase	742	39.23
US4601461035	Purchase	104,702	39.52
US4601461035	Sale	734	39.52
US4601461035	Purchase	492	38.95
US4601461035	Sale	15,032	38.95
US4601461035	Sale	3,234	38.74
US4601461035	Sale	942	38.73
US4601461035	Purchase	10,632	39.44
US4601461035	Sale	7,552	39.44
US4601461035	Sale	805	38.71
US4601461035	Purchase	1,268	39.07
US4601461035	Sale	1,377	39.07
US4601461035	Sale	1,029	38.72
US4601461035	Purchase	13	38.82
US4601461035	Sale	9,052	38.82
US4601461035	Sale	13,200	38.81
US4601461035	Sale	8,198	38.84
US4601461035	Sale	10,708	38.83
US4601461035	Sale	5,737	38.86
US4601461035	Purchase	26	38.90
US4601461035	Sale	7,290	38.90
US4601461035	Purchase	20	38.92
US4601461035	Sale	6,460	38.92
US4601461035	Sale	4,564	38.91
US4601461035	Purchase	22	38.93
US4601461035	Sale	6,360	38.93
US4601461035	Purchase	3	38.89
US4601461035	Sale	6,968	38.89
US4601461035	Sale	7,719	38.88
US4601461035	Sale	15,494	38.87
US4601461035	Sale	3	38.63
US4601461035	Purchase	178	38.94
US4601461035	Sale	13,876	38.94
US4601461035	Purchase	250	38.96
US4601461035	Sale	23,715	38.96
US4601461035	Sale	3,077	39.03
US4601461035	Purchase	5	38.99
US4601461035	Sale	9,318	38.99
US4601461035	Purchase	3	38.98
US4601461035	Sale	12,966	38.98
US4601461035	Sale	12,531	38.97
US4601461035	Purchase	27	39.00
US4601461035	Sale	2,720	39.00
US4601461035	Purchase	3	39.01
US4601461035	Sale	1,426	39.01
US4601461035	Sale	1,724	39.02
US4601461035	Sale	2,289	39.06
US4601461035	Purchase	3	39.05
US4601461035	Sale	931	39.05
US4601461035	Purchase	7,800	39.04
US4601461035	Sale	1,575	39.04
US4601461035	Sale	6	38.62
US4601461035	Purchase	985	39.08
US4601461035	Sale	347	39.08
US4601461035	Sale	12	38.61
US4601461035	Sale	647	39.09
US4601461035	Purchase	496	39.16
US4601461035	Purchase	1,798	39.17
US4601461035	Sale	900	39.17
US4601461035	Purchase	100	39.25
US4601461035	Purchase	622	39.10
US4601461035	Purchase	627	39.15
US4601461035	Purchase	4,724	39.12
US4601461035	Purchase	184	39.27
US4601461035	Purchase	2,628	39.31
US4601461035	Sale	4,239	39.31
US4601461035	Purchase	1,423	39.36
US4601461035	Purchase	20,066	39.33
US4601461035	Sale	6,019	39.33
US4601461035	Purchase	488	39.30
US4601461035	Sale	3,805	39.29
US4601461035	Purchase	8,360	39.32
US4601461035	Purchase	322	39.40
US4601461035	Sale	1	39.40
US4601461035	Purchase	294	39.43
US4601461035	Purchase	17,444	39.35
US4601461035	Purchase	4,354	39.34
US4601461035	Sale	201	39.34
US4601461035	Sale	9	39.51
US4601461035	Purchase	1,845	39.19
US4601461035	Sale	8,902	39.19
US4601461035	Purchase	12	39.46
US4601461035	Sale	579	39.46
US4601461035	Purchase	306	39.18
US4601461035	Sale	2,955	39.18
US4601461035	Purchase	3,240	39.37
US4601461035	Sale	3	39.37
US4601461035	Purchase	4,078	39.38
US4601461035	Sale	901	39.38
US4601461035	Purchase	3,194	39.39
US4601461035	Sale	10	39.47
US4601461035	Purchase	414	39.26
US4601461035	Purchase	5	39.50
US4601461035	Sale	233	39.50
US4601461035	Purchase	100	39.41
US4601461035	Purchase	900	39.11
US4601461035	Purchase	100	39.56
US4601461035	Sale	10,000	39.05
US4601461035	Purchase	2,232	38.58
US4601461035	Purchase	19	38.75
US4601461035	Purchase	711	38.85
US4601461035	Purchase	162	38.79
US4601461035	Purchase	14,541	39.52
US4601461035	Purchase	1,165	38.95
US4601461035	Purchase	739	38.81
US4601461035	Purchase	51	38.84
US4601461035	Purchase	100	38.83
US4601461035	Purchase	2,343	38.86
US4601461035	Purchase	1,830	38.90
US4601461035	Purchase	973	38.92
US4601461035	Purchase	497	38.91
US4601461035	Purchase	84	38.93
US4601461035	Purchase	420	38.89
US4601461035	Purchase	1,169	38.88
US4601461035	Purchase	218	38.87
US4601461035	Purchase	424	38.94
US4601461035	Purchase	1,046	38.96
US4601461035	Purchase	463	38.99
US4601461035	Purchase	426	38.97
US4601461035	Purchase	32	39.00
US4601461035	Purchase	25	39.01
US4601461035	Purchase	543	39.02
US4601461035	Purchase	171	39.04
US4601461035	Purchase	1,500	39.25
US4601461035	Purchase	368	39.51
US4601461035	Purchase	200	39.46
US4601461035	Purchase	200	39.41
US4601461035	Sale	664	39.52
US4601461035	Sale	146	39.52
US4601461035	Purchase	1,012	39.07
US4601461035	Purchase	900	39.03
US4601461035	Purchase	903	39.00
US4601461035	Purchase	300	39.02
US4601461035	Purchase	1,402	39.06
US4601461035	Purchase	320	39.04
US4601461035	Purchase	1,313	39.08
US4601461035	Purchase	100	39.09
US4601461035	Sale	179	39.36
US4601461035	Sale	92	39.40
US4601461035	Sale	20	39.46
US4601461035	Sale	164	39.37
US4601461035	Sale	1	39.28
US4601461035	Sale	41	39.53
US4601461035	Purchase	25	39.52
US4601461035	Sale	25	39.52
US4601461035	Sale	209	39.52
US4601461035	Sale	100	38.78
US4601461035	Sale	4,202	39.52
US4601461035	Sale	262	38.91
US4601461035	Sale	25	38.93
US4601461035	Sale	300	38.87
US4601461035	Sale	224	38.94
US4601461035	Sale	10	38.96
US4601461035	Sale	69	39.02
US4601461035	Sale	400	38.65
US4601461035	Sale	100	38.60
US4601461035	Sale	1,500	39.25
US4601461035	Sale	103,702	39.52
US4601461035	Purchase	240	39.45
US4601461035	Purchase	480	38.85
US4601461035	Sale	200	39.13
US4601461035	Sale	57	39.23
US4601461035	Sale	6,976	39.52
US4601461035	Purchase	120	38.95
US4601461035	Sale	6,181	39.44
US4601461035	Purchase	11	39.07

(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	61,782	30.62 GBP
US4601461035	Equity Swap	Reducing a long position	174	39.13 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	150,000	42.50	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?

YES

Date of disclosure:	14^th May 2024
Contact name:	Stephen Glasper
Telephone number:	[phone]

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 [e-mail]. The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on [phone].

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	5/17/2024
US4601461035	Call Option	Written	300,000	50.00	American	10/18/2024
US4601461035	Call Option	Purchased	539,800	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
US4601461035	Put Option	Written	125,000	37.50	American	6/21/2024

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 [phone].

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

Category Code: RET

Sequence Number: 1227054

Time of Receipt (offset from UTC): 20240514T155513+0100