International Paper Completes Acquisition of DS Smith plc – Shares to Begin Trading on NYSE

On January 31, 2025, International Paper Company, a New York corporation, successfully finalized the acquisition of DS Smith plc, a public limited company based in England and Wales. The acquisition, completed through International Paper’s subsidiary, International Paper UK Holdings Limited, was conducted via a court-sanctioned scheme of arrangement under the UK Companies Act 2006.

The terms of the acquisition, disclosed in a Rule 2.7 Announcement on April 16, 2024, outlined that DS Smith shareholders would receive 0.1285 of a new share of International Paper’s common stock for each DS Smith Share, resulting in around 179,847,780 new shares of Company Common Stock being issued. Following the completion of the acquisition on January 31, 2025, DS Smith Shares are expected to be delisted from the London Stock Exchange on February 4, 2025.

Moreover, it is anticipated that shares of the New Company Common Stock will commence trading on the New York Stock Exchange under the symbol “IP” on February 4, 2025. Additionally, shares of the Company Common Stock, including the New Company Common Stock, will have a secondary listing on the LSE under the symbol “IPC.”

Due to the acquisition, International Paper has taken steps to issue the New Company Common Stock as part of the consideration. These shares will be issued in reliance on an exemption from registration as per Section 3(a)(10) of the Securities Act of 1933. As a result, the holders of the New Company Common Stock will collectively have a stake of approximately 34.1% in the Company’s outstanding share capital.

On January 31, 2025, the company issued a press release announcing the successful closing of the acquisition. The complete details of this announcement can be found in the Company’s press release, attached as Exhibit 99.1 to the Current Report on Form 8-K.

For further financial details and supporting documents related to the acquisition, interested parties are referred to the Company’s Definitive Proxy Statement filed on September 12, 2024, which includes essential financial statements of the acquired business and unaudited pro forma financial information in compliance with regulatory requirements.

The relevant exhibits related to the acquisition, including the Rule 2.7 Announcement, the Co-operation Agreement with DS Smith, and the Company’s press release, can be found as part of this Current Report on Form 8-K.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read International Paper’s 8K filing here.

International Paper Company Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.