...April 16, 2024 This report does not constitute a rating action. ENGLEWOOD (S&P Global Ratings) April 16, 2024--S&P Global Ratings today said its ratings on International Paper Co. (###/Stable/A-2) are not immediately affected by the company's announcement that it has reached an agreement to acquire London-based DS Smith PLC through an all equity-offer that values DS Smith at about ú5.8 billion. Under the terms of the offer, DS Smith's shareholders would receive 0.1285 shares in International Paper for each DS Smith share, providing them with an ownership stake of approximately 33.7% in the combined group. Based on International Paper's share price of $40.85 as of the close of business on March 25, 2024, the offer represents a value of ú4.15 per share, which is a 48% premium relative to DS Smith's share price of ú2.81 as of the close of business on Feb. 7, 2024. The offer has been approved by both companies' boards of directors and, if approved by their shareholders, is expected to close...