secwatch.observer — SEC 8-K summary
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Issuer:     INTERNATIONAL PAPER CO /NEW/ (IP)
CIK:        0000051434
Form:       8-K
Filed at:   2024-04-16T23:59:59+00:00
Accession:  0001193125-24-097349
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/51434/000119312524097349/0001193125-24-097349-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/51434/000119312524097349/d827360d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-097349

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer