AI English summary of an SEC filing — figures as filed
International Paper IPInternational Paper said it completed the closing of its acquisition of all issued and to be issued ordinary shares of DS Smith plc through its indirect wholly owned subsidiary, International Paper UK Holdings Limited, on January 31, 2025. The acquisition was effected by a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006.
Key points
AI summaryInternational Paper said it completed the closing of its acquisition of all issued and to be issued ordinary shares of DS Smith plc through its indirect wholly owned subsidiary, International Paper UK Holdings Limited, on January 31, 2025. The acquisition was effected by a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006.
The company said it will pay 0.1285 shares of new common stock for each ordinary share of DS Smith and issue about 179,847,780 new shares. It said these are the acquisition terms disclosed in the Rule 2.7 Announcement on April 16, 2024.
The company said holders of the new common stock will collectively own about 34.1% of its outstanding share capital, based on its basic share capital and DS Smith's fully diluted share capital as of January 31, 2025. The issuance relies on the exemption under Section 3(a)(10) of the Securities Act.
International Paper said DS Smith shares are expected to be delisted from the London Stock Exchange on February 4, 2025. The new shares are also expected to begin trading on the New York Stock Exchange under IP on the same day, and on the London Stock Exchange under IPC through a secondary listing.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
International Paper Completes DS Smith plc Acquisition
International Paper said it completed the closing of its acquisition of all issued and to be issued ordinary shares of DS Smith plc through its indirect wholly owned subsidiary, International Paper UK Holdings Limited, on January 31, 2025. The acquisition was effected by a court-sanctioned scheme of arrangement under Part 26 of the UK Companies Act 2006.
Source · Based on the filing body and exhibits
DS Smith Exchange at 0.1285 Shares per Share
The company said it will pay 0.1285 shares of new common stock for each ordinary share of DS Smith and issue about 179,847,780 new shares. It said these are the acquisition terms disclosed in the Rule 2.7 Announcement on April 16, 2024.
Source · Based on the filing body and exhibits
New Share Ownership at 34.1%
The company said holders of the new common stock will collectively own about 34.1% of its outstanding share capital, based on its basic share capital and DS Smith's fully diluted share capital as of January 31, 2025. The issuance relies on the exemption under Section 3(a)(10) of the Securities Act.
Source · Based on the filing body and exhibits
Expected Trading Start on February 4, 2025
International Paper said DS Smith shares are expected to be delisted from the London Stock Exchange on February 4, 2025. The new shares are also expected to begin trading on the New York Stock Exchange under IP on the same day, and on the London Stock Exchange under IPC through a secondary listing.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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