---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-097349"
form_type: "8-K"
ticker: "IP"
cik: "0000051434"
company_name: "INTERNATIONAL PAPER CO /NEW/"
filed_at: "2024-04-16T23:59:59+00:00"
generated_at: "2026-06-03T22:28:34.552240+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-24-097349
- form_type: 8-K
- ticker: IP
- cik: 0000051434
- company_name: INTERNATIONAL PAPER CO /NEW/
- filed_at: 2024-04-16T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/51434/000119312524097349/0001193125-24-097349-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/51434/000119312524097349/d827360d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-097349
- JSON: https://secwatch.observer/filing/0001193125-24-097349.json
- Plain text: https://secwatch.observer/filing/0001193125-24-097349.txt

## Key facts
- Material Agreements
  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
  source text: 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 ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/51434/000119312524097349/0001193125-24-097349-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.