Vanguard Discloses Substantial Holding in International Paper Company

The Vanguard Group, Inc. has revealed its substantial ownership in International Paper Company, where it owns 40,666,465 shares representing an 11.71% stake. This disclosure was noted under Form 8.3 of the Takeover Code, indicating Vanguard’s significant interests in securities that meet or exceed 1% ownership.

The disclosure, dated 22 April 2024, was triggered by recent transactions involving Vanguard’s dealings with International Paper's common stock, with 13,526 shares purchased and 5,331 shares sold, both at a price of $34.76 each. Apart from International Paper Company, Vanguard has also disclosed interests in another entity, Smith (DS) plc, suggesting active positions in multiple firms.

The report specifies there are no dealing arrangements such as indemnities, options, or other agreements that might influence dealings concerning the disclosed securities. Vanguard's clear and transparent reporting underlines its compliance with the procedural norms set out by the takeover regulations.