International Paper said it held a special shareholder meeting on October 11, 2024 for the acquisition of all issued and to-be-issued ordinary shares of DS Smith Plc by International Paper UK Holdings Limited, and that holders of its common stock approved the deal-related proposals.

1. 01

   International Paper said it held a special shareholder meeting on October 11, 2024 for the acquisition of all issued and to-be-issued ordinary shares of DS Smith Plc by International Paper UK Holdings Limited, and that holders of its common stock approved the deal-related proposals.

2. 02

   The company said holders of 283,548,411 of its 347,379,366 common shares entitled to vote as of the record date of September 12, 2024 were present, constituting a quorum. Votes on the share issuance proposal were 281,946,921 for, 861,263 against and 740,277 abstaining.

3. 03

   The company said the adjournment proposal, which would allow it to solicit additional proxies if there were insufficient votes to approve the share issuance, received 223,354,906 votes for, 59,449,752 against and 743,753 abstaining. Broker non-votes totaled 0.

4. 04

   The company said DS Smith also received the required shareholder approval earlier that week. International Paper and DS Smith continue to expect the acquisition to close late in Q4 2024, subject to regulatory clearance and other customary closing conditions.

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