MEMPHIS, TN (From news reports) -- International Paper Co, a global leader in the paper and packaging industry, announced significant progress in its acquisition of DS Smith Plc, a UK-based packaging company.

On September 11, 2024, International Paper published a prospectus in compliance with the UK Financial Conduct Authority's Prospectus Regulation Rules, a crucial step towards listing its shares on the London Stock Exchange as part of the acquisition process.

The prospectus is related to the admission of International Paper's common stock to the equity shares category of the Official List of the FCA and the trading on the London Stock Exchange's main market. This move is in connection with the all-stock transaction to acquire DS Smith, initially disclosed as a recommended offer.

Simultaneously, DS Smith issued a scheme document outlining the full terms and conditions of the acquisition and scheduled a shareholder meeting for October 7, 2024, to vote on the proposal.

International Paper also plans to file a definitive proxy statement with the U.S. Securities and Exchange Commission on September 12, 2024, concerning the proposed issuance of company common stock as consideration for the acquisition. A special meeting for International Paper shareholders to approve the share issuance is set for October 11, 2024.

The company's forward-looking statements indicate anticipation for the timely completion of the acquisition, subject to the satisfaction of various conditions and regulatory approvals.

These statements also reflect expectations about the potential impact on market prices, operating results, and business relationships due to the acquisition process.

PROXY STATEMENT

International Paper announced that it has filed with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement on Schedule 14A (including any amendments and supplements thereto, the "Definitive Proxy Statement") in connection with its pending acquisition of DS Smith Plc (LSE: DSS, "DS Smith") (the "Combination").

All shareholders of record of IP common stock as of the close of business on Thursday, September 12, 2024, will be entitled to vote their shares by proxy at the special meeting of the IP shareholders (the "Special Meeting") to approve the issuance (the "Share Issuance") of new shares of common stock of IP, par value $1.00 per share, in connection with the Combination. In addition, on September 11, 2024, DS Smith published and sent to DS Smith shareholders its scheme document in the United Kingdom prepared in accordance with Part 26 of the U.K. Companies Act 2006, containing the full terms and conditions of the Combination, and setting October 7, 2024 as the date of DS Smith's shareholder meeting to approve the Combination. On September 11, 2024, IP also published a Prospectus with the U.K. Financial Conduct Authority, in connection with the admission to trading of IP's shares of common stock, par value $1.00 per share, on the London Stock Exchange upon completion of the Combination.