International Paper Announces Filing of Definitive Proxy Statement in Connection with its Pending Acquisition of DS Smith

Core Viewpoint - International Paper (IP) is recommending its shareholders to vote "FOR" the proposal related to the acquisition of DS Smith Plc, which is expected to enhance its position in sustainable packaging solutions and improve profitability through increased vertical integration [1][3]. Group 1: Acquisition Details - IP has filed a definitive proxy statement with the SEC regarding the acquisition of DS Smith, which is structured as an acquisition in accordance with the U.K. Takeover Code and English law [1][3]. - The special meeting for IP shareholders to vote on the share issuance related to the acquisition is scheduled for October 11, 2024 [2][3]. - DS Smith has also published its scheme document in the U.K., with its shareholder meeting set for October 7, 2024, to approve the combination [2][3]. Group 2: Strategic Benefits - The combination is anticipated to create a global leader in sustainable packaging, focusing on the North American and European markets [3]. - The merger aims to leverage complementary business models to enhance profitability and customer value through improved offerings and innovation [3]. - The acquisition is expected to accelerate sustainability initiatives for the benefit of all stakeholders involved [3]. Group 3: Company Overview - International Paper is a major global provider of renewable fiber-based packaging and pulp products, with net sales of $18.9 billion in 2023 [4]. - The company operates manufacturing facilities across North America, Europe, Latin America, and North Africa, employing approximately 39,000 people globally [4].