EC clears IP-DS Smith deal subject to plant divestitures; expected to close Jan 31

INTERNATIONAL PAPER CO /NEW/

European Commission issued conditional Phase I clearance on Jan 24, requiring divestiture of plants in Mortagne, Saint-Amand, Cabourg (France), Ovar (Portugal), Bilbao (Spain).
Court hearing to sanction scheme scheduled Jan 30; combination expected effective Jan 31, 2025.
New International Paper shares to be issued Feb 4 and trade on NYSE and LSE.

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