International Paper to acquire DS Smith in all-stock $9.9B deal, creating global packaging leader

INTERNATIONAL PAPER CO /NEW/

DS Smith shareholders receive 0.1285 IP shares per share; pro forma ownership 66.3% IP, 33.7% DS Smith.
Transaction expected to close Q4 2024; IP to maintain current dividend and strong investment-grade balance sheet.
At least $514M in annual pre-tax cash synergies expected by year 4; ~$370M one-time costs to achieve.
Andrew Silvernail to lead combined company; Miles Roberts to serve as integration consultant.
Combined FY23 pro forma revenue ~$28.2B and adjusted EBITDA ~$4.1B; EPS accretive in year one.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

INTERNATIONAL PAPER CO /NEW/ entered into Co-operation Agreement with DS Smith Plc (effective 2024-04-16).

Action: entry
Agreement: merger
Counterparty: DS Smith Plc
Effective: 2024-04-16

Exact text from the filing

nnouncement (the “ Rule 2.7 Announcement ”), pursuant to Rule 2.7 of the United Kingdom City Code on Takeovers and Mergers (the “ Code ”) disclosing the terms of a recommended offer by the Company to acquire the entire issued and to be issued share capital of DS Smith Plc, a public limited company incorporated in England and Wales (“ DS Smith ”), in an all-stock transaction (the “ Business Combination ”).

View on SEC.gov

419 material agreements filed in the last 30 days. Browse all material agreements →

INTERNATIONAL PAPER CO /NEW/ filing history →

Source: SEC EDGAR

accession 0001193125-24-097349

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.