12:12 PM EST, 11/11/2025 (MT Newswires) -- Sylvamo ( SLVM ) shares rose past 6% in recent trading Tuesday, a day after the company said its board of directors unanimously approved a one-year shareholder rights plan, effective immediately.

The decision followed the resignation of two Atlas-affiliated directors, which ended a 2023 cooperation agreement between the two companies, Sylvamo ( SLVM ) said.

Atlas currently holds an economic interest of about 21.5% of Sylvamo's ( SLVM ) shares, including 16% direct ownership and 5.5% through derivatives, according to the statement. After Nov. 13, Atlas will no longer be bound by standstill restrictions under the cooperation agreement, Sylvamo ( SLVM ) said.

The rights plan, which will expire Nov. 9, 2026, is meant to prevent any investor or group from gaining control of Sylvamo ( SLVM ) without fairly compensating shareholders or allowing the board enough time to evaluate options, the company said.

Price: 45.67, Change: +2.82, Percent Change: +6.58