International Paper Announces Expiration of Hart-Scott-Rodino Act for Proposed DS Smith Deal

June 25, 2024 - The boards of International Paper Company and DS Smith Plc are pleased to announce the expiration of the waiting period under the Hart-Scott-Rodino Act (the "HSR Act") for the proposed combination of DS Smith with International Paper.

In a written statement, International Paper said, "This is an important step in the consummation of the proposed combination as the expiration removes the HSR Act's bar to closing. Completion of the Combination remains subject to the satisfaction or waiver of the remaining Conditions, including regulatory clearance being received from the European Commission and the sanctioning of the Scheme by the Court. International Paper and DS Smith still expect the Scheme to become effective in the fourth quarter of 2024."

The full press release with further details about International Paper's proposed combination with DS Smith is available on International Paper's website: www.internationalpaper.com.

International Paper is a global producer of sustainable packaging, pulp and other fiber-based products, and one of the world's largest recyclers. Headquartered in Memphis, Tennessee, IP employs approximately 39,000 colleagues globally. The company serves customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2023 were $18.9 billion.

SOURCE: International Paper