While the firm remains committed to its previously announced spin-off—which targets a listing on the London Stock Exchange paired with a Level II ADR program in New York—management is now evaluating competing offers in parallel. Discussions with potential suitors are in the preliminary stages, and leadership cautions that no final decision has been reached regarding a sale.
The uncertainty surrounding the future of the EMEA business leaves both the timing and the ultimate structure of the separation in flux. International Paper intends to proceed with its scheduled "DS Smith – Capital Markets Day" on November 3, 2026, even as it weighs these new inquiries. Stakeholders have been advised that there is no guarantee that a definitive agreement for the business will ever be finalized.
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