Vanguard Group Discloses Position in Smith (DS) plc Amid Takeover Speculation

The Vanguard Group, Inc. has made a public disclosure related to its holdings in Smith (DS) plc, a move mandated by the Takeover Code which comes into play for shareholders with interests reaching or exceeding 1%. According to a filing dated April 3, 2024, Vanguard reported a significant ownership in the packaging company, revealing a stake that amounts to 4.52% of Smith (DS) plc's issued share capital, a total of 62,324,940 shares.

This announcement is of particular interest given the context and timing; it follows amidst rumors of potential takeover bids involving Smith (DS) plc. Notably, Vanguard's disclosure also references its position relative to other relevant parties, including International Paper Company and Mondi plc, suggesting a broader strategic significance behind these holdings. The transactions leading up to this disclosure involved the purchase of 36,110 shares, priced at 3.95 GBP each, further illustrating Vanguard's active management of its stake.

No information was provided concerning arrangements such as indemnity or other dealing agreements that might suggest a strategic move in the context of a possible takeover. As this situation develops, stakeholders and market observers will be watching closely for any changes in Vanguard's position or further announcements pertaining to Smith (DS) plc.